Define Chattel Mortgage

Chattel – definition of chattel by The Free Dictionarydefine chattel. chattel synonyms, chattel pronunciation, chattel translation, English dictionary definition of chattel. n. 1. Law An article of movable personal property.. By giving a chattel mortgage on their growing wheat, they borrowed enough, at twenty per cent, to buy seed corn and a plow.

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Mortgage | Definition of Mortgage by Merriam-Webster – Mortgage definition is – a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. How to use mortgage in a sentence.

Chattel mortgage dictionary definition | chattel mortgage defined – chattel mortgage definition: nounA mortgage using movable personal property rather than real estate as security.. Definitions. chattel mortgage chattel mortgage. noun. A mortgage using movable personal property rather than real estate as security.

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Chattel – Definition, Examples, Cases, Processes – A chattel mortgage is often used for the purchase of a car, the "chattel" being the car. A less acceptable transaction involving chattel is chattel slavery, which is a situation in which people are bought and sold as if they were physical property.

Chattel mortgage – Wikipedia – Chattel mortgage, sometimes abbreviated CM, is the legal term for a type of loan contract used in some states with legal systems derived from English law. Under a typical chattel mortgage , the purchaser borrows funds for the purchase of movable personal property (the chattel) from the lender.

Personal property – Wikipedia – Personal property can often be secured with similar kind of device, variously called a chattel mortgage, trust receipt, or security interest. In the United States, Article 9 of the uniform commercial code governs the creation and enforcement of security interests in most (but not all) types of personal property.

Savvy – What is a Chattel Mortgage and How Do They Work? – Are you looking to finance your car with chattel mortgage for your business? Find out what is a chattel mortgage and how do they actually work. A chattel mortgage is a loan product built specifically for commercial car purchases – cars used for business 50% of the time or more.

Definition of Chattel Mortgage | What is Chattel Mortgage. – Definition: Chattel mortgage is a loan extended to an individual or a company on a movable property.Here, the ‘chattel’ or the movable personal property which could be a car or a mobile home can be used as a security to extend the loan.

Chattel Mortgage Non-Filing Insurance – Investopedia – Chattel mortgage non-filing insurance is an insurance policy covering losses that result from a policyholder being unable to secure possession of property used as collateral in a chattel mortgage.

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