Chattel mortgage definition, a mortgage on household, movable, or other personal property. See more.
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By the same logic, she, herself, would still be chattel. Not to mention that the impeachee is. to be defined as slaving for corporate America for 50 years to pay off a mortgage, get cancer and die.
What is a Chattel Mortgage? A chattel mortgage is a form of financing that can be used to purchase or refinance a manufactured home that’s not permanently attached to land. For example, chattel mortgages can be used to finance the purchase of manufactured homes that are placed in land-lease.
chattel: An item of Personal Property that is movable; it may be animate or inanimate. Chattels are synonymous with goods or personalty.
A chattel mortgage is a loan in which the borrower uses a movable personal property as security. The term chattel mortgage has slightly different meanings across the world. In one country it may refer to a car loan. In other countries, on the other hand, people use it for any loan without using freehold land as security.
A chattel mortgage is a mortgage that provides for a security interest in assets other than real estate to secure the loan. In the event of a default in payments, the lender has a lien in the assets used as collateral for the loan. In most states, a security agreement has replaced the use of chattel mortgages.
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In respect of chattel houses on rented land for a long period of time, this fact in itself will give you no special rights except where your tenancy falls within the definition of a tenancy as defined.
Definition of ‘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.
The market for “American” art. failed to file what are known as UCC notices (chattel mortgages in the UK) on their property. These would have secured their ownership of the property. Others doing.