Chattel Form Paper Format In Arizona
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FAQ
Broadly, any property that is not freehold land. For example, a piece of jewellery, a painting or a car and, in some contexts, goods, equipment or machinery. Chattels are sometimes called "choses in possession", to distinguish them from choses in action, which are intangible forms of personal property.
Chattel is movable goods and land cannot be moved. A house would not be considered chattel property because it is attached to the land. On the other hand, a mobile home falls under the chattel property category because it is not part of the land; it can be moved.
Chattel is personal property that is movable between locations, as opposed to real property, which has a fixed location. Common examples include mobile homes, furniture, and automobiles. This article explains what chattel is and how it is used as security in chattel mortgages.
Chattel paper is an asset type over which an entity can grant a security interest under Article 9 of the UCC. For more information on security interests in chattel paper, see Practice Note, UCC Creation, Perfection, and Priority of Security Interests.
Tangible chattel paper is sometimes delivered to the assignee, and sometimes left in the hands of the assignor for collection. Subsection (a) allows the assignee to perfect its security interest by filing in the latter case. Alternatively, the assignee may perfect by taking possession.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.