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Define Chattel Mortgage

Chattel mortgage definition: a mortgage on movable personal property | Meaning, pronunciation, translations and examples

Bank Rate.Com Loan Calculator Loan Payoff Definition Definition of MORTGAGE PAYMENT: A regularly scheduled amount owed that includes a portion of principal and interest paid by the home loan borrower to the lender. real estate taxes and The law dictionary featuring black’s law dictionary free online legal dictionary 2nd Ed.For the full mortgage Rate Trend Index, go to http://www.bankrate.com/news/rate-trends/mortgage.aspx To download the Bankrate Mortgage Calculator & Mortgage Rates iPhone App 2.0 go to.

chattel mortgage TheLaw.com Law Dictionary & Black’s Law Dictionary 2nd Ed. An instrument of sale of personalty conveying the title of the property to the mortgagee with terms of defeasance; and, if the terms of redemption are not complied with, then, at common law, the title becomes absolute in the mortgagee, Means v.

chattel mortgage – a loan to buy some personal item; the item (or chattel) is security for the loan mortgage – a conditional conveyance of property as security for the repayment of a loan

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.

A chattel mortgage involves a finance company lending you the money to purchase a vehicle that will be primarily used for business purposes. Set repayments are then made on a monthly basis. You’ll own the vehicle outright, however, the finance company will place a "mortgage" over the vehicle, as security against the loan.

Chattel mortgage definition, a mortgage on household, movable, or other personal property. See more.

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.

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. A mortgage involving personal property rather than.

Definition of CHATTEL MORTGAGE: An instrument of sale of personalty conveying the title of the property to the mortgagee with terms of defeasance; and, if the terms of redemption are not The Law Dictionary Featuring Black’s Law Dictionary Free Online legal dictionary 2nd ed.

A chattel mortgage is a loan arrangement in which an item of movable personal property acts as security for a loan. The movable property, or chattel, guarantees the loan, and the lender holds an.

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