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SECURITY AGREEMENT (Chattel Mortgage)THIS AGREEMENT, made this day of , 20 , under the laws of the State of BETWEEN NAME OF CREDITOR (herein called the "Secured Party ") whose address is.

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Once you discover a perfect Chattel Mortgage Form, all you have to do is adjust the template to your preferences or legal requirements. Apart from completing the fillable form with accurate information, you might need to remove some provisions in the document that are irrelevant to your circumstance. Alternatively, you may want to add some missing conditions in the original template. Our advanced document editing tools are the simplest way to fix and adjust the document.

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Related links form

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A common example of a chattel mortgage is a car loan. ... Other common examples are the purchase of a mobile home, a loan secured with a car title, or when a company purchases much-needed equipment and uses other equipment on site as 'chattel' to secure the loan.

How is a Chattel Mortgage different from a Real Estate Mortgage? Both documents serve the same purpose of placing a mortgage on the property. However, a Chattel Mortgage is used when the security involves movable property while a Real Estate Mortgage is used for immovable property.

A chattel mortgage is a lien on the personal property of a borrower. Chattel mortgages are commonly employed when a consumer buys a more expensive item on credit, such as an automobile or household appliance. If the borrower cannot pay the lender on a timely basis, the lender can repossess the property.

A chattel mortgage is a conditional sale of personal property as security for the payment of a debt, or the performance of some other obligation specified therein, the condition being that the sale shall be void upon the seller paying to the purchaser a sum of money or doing some other act named.

The main difference between chattel and traditional mortgages is that chattel mortgages can only be used for movable property, while conventional mortgages are typically reserved for stationary homes.

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

Repayments can be structured over a range of terms usually 2 to 5 years. Interest rates are usually lower than unsecured loans and can be fixed or variable.

How does a chattel mortgage work? Much like a secured car loan, the lender will provide the funds for you to purchase the vehicle and you'll take ownership at the time of purchase. The lender takes a 'mortgage' over the vehicle as security for the loan. Once the contract is completed you'll own the vehicle outright.

A chattel refers to property that is easily moveable and, therefore, not permanent. ... Things like fridges, washing machines and dryers are considered to be chattels, since they are often removed from a home when it is being bought or sold.

How does a chattel mortgage work? Much like a secured car loan, the lender will provide the funds for you to purchase the vehicle and you'll take ownership at the time of purchase. The lender takes a 'mortgage' over the vehicle as security for the loan. Once the contract is completed you'll own the vehicle outright.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232