Chattel Mortgage Form With 2 Points In Alameda

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

Description

A chattel mortgage is a term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan.
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FAQ

Residents are asked to use the envelopes they received from the Tax Collector's Office with the address of 1221 Oak Street, Room 131, Oakland, CA 94612 or can use their own envelopes with the address Alameda County, Secured Property Tax Payments, P.O. Box 45862, San Francisco, CA 94145-0862.

If you did not receive or misplaced your tax bill, you can request a duplicate online at .

Please contact the Alameda County agencies listed below to obtain information and specific documents for your properties. Contact the Alameda County Clerk. Request a Copy of a Grant Deed. Contact the Alameda County Tax Assessor. Learn More About Your Property Tax Assessment. Contact the Alameda County Treasurer.

Proposition 13 also limits the amount of taxes that can be charged to an owner of locally assessed property to 1 percent of the property's taxable value, plus any voter approved bonded indebtedness, service fees, improvement bonds, and special assessments.

Enter the sale information to report on Form 4797 or Schedule D. Select Real Estate Withholding (Form 593) from the lower-left Sections list. Enter the amount reported on Form 593, box 5 in the Amount withheld from seller field.

In comparison to regular mortgages, chattel mortgages come with shorter terms which means they're repaid within 10-15 years in most cases. With a residential mortgage, the lender can retain a lien on the property which may or may not be the case with a chattel property mortgage.

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.

The Bottom Line. If you're looking to buy a modular home or movable piece of equipment, taking out a chattel mortgage could be right for you. These loans come with shorter terms and much lower processing fees. However, the interest rate will be higher than what you'd receive on a conventional mortgage.

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Chattel Mortgage Form With 2 Points In Alameda