Chattel Mortgage Form Formal Contract In Contra Costa

State:
Multi-State
County:
Contra Costa
Control #:
US-0007BG
Format:
Word; 
Rich Text
Instant download

Description

The Chattel Mortgage form formal contract in Contra Costa is a legal document used to secure a loan against movable property, specifically a mobile home. It establishes a mortgagor-mortgagee relationship where the property is detailed in an attached Exhibit A and serves as collateral for the outstanding debt. This form outlines crucial terms such as the loan amount, interest rate, and repayment schedule, with clear obligations for both the mortgagor and mortgagee. Users are instructed to fill in specific information, such as addresses and monetary amounts, ensuring all parties' identities and roles are documented. The form includes provisions about ownership, insurance requirements, and actions the mortgagee can take in case of default. It is particularly useful for attorneys, partners, and legal assistants who may draft or review such contracts, while also serving the needs of individual homeowners seeking financing options for their mobile homes. The procedural simplicity of this form makes it accessible to users with limited legal experience, supporting them in protecting their rights concerning movable property.
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FAQ

The Bottom Line Chattel mortgages are a little-known but potentially good option if you're looking to finance a manufactured home or heavy equipment. These loans are smaller than conventional loans and tend to have higher rates, but they have shorter terms and quicker payoffs.

By chattel mortgage, personal property is recorded in the Chattel Mortgage Register as a security for the performance of an obligation. If the movable, instead of being recorded, is delivered to the creditor or a third person, the contract is a pledge and not a chattel mortgage.

A chattel mortgage shall not be valid against any person except the mortgagor, his executors or administrators, unless the possession of the property is delivered to and retained by the mortgagee or unless the mortgage is recorded in the office of the register of deeds of the province in which the mortgagor resides at ...

To be eligible for recording, a document must be drawn and executed ing to the recording acts of the state in which the real estate is located. For instance, a state may require that the parties' names be typed below their signatures or that the document be acknowledged before a notary public.

Ing to the California Rules of Court, Rule 2.101(b)(3), documents filed with the court must be printed or typewritten on standard letter-sized paper (8.5" x 11"), single-sided.

Document must contain original signatures OR be a certified copy of the original; certified copies must be unaltered (Gov. Code 27201(b)). Names of party(ies) to be indexed must be legibly printed or typed near all signatures and be consistent throughout the entire document (Gov. Code 27280.5).

In California, all parties to any confidential conversation must give their consent to be recorded. For calls occurring over cellular or cordless phones, all parties must consent before a person can record, regardless of confidentiality. Both civil and criminal penalties are available to victims of illegal recordings.

Document must contain black or blue ink on white paper. All pages must be 8 ½" by 11". There is a surcharge of $3 per page for every page of a document in which any portion of the document is not 8 ½" by 11". Any page over 8 ½" by 14" will not be accepted for recording.

Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.

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Chattel Mortgage Form Formal Contract In Contra Costa