Chattel Form Paper Format In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-0007BG
Format:
Word;
Rich Text
Instant download
Description
The Chattel Mortgage on Mobile Home form serves as a legal agreement between a mortgagor and a mortgagee, outlining the mortgage of a mobile home as collateral for a loan. Key features of this form include detailing the loan amount, interest rates, and the repayment schedule. It requires specific information such as names, addresses, and the description of the collateral. Users must fill in blank fields with accurate details and may need to attach additional documents, such as a promissory note. This form allows for the security of current and future debts and includes clauses that protect the mortgagee's interests. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to facilitate secured lending arrangements, ensuring proper legal protections are in place. It is essential for legal professionals to be familiar with its requirements to effectively advise clients and manage real estate transactions involving mobile homes. The clarity and straightforward structure of the form assist users, even those with limited legal experience, in comprehending their obligations and rights.
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FAQ
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.
