Chattel Form Paper With Lines In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-0007BG
Format:
Word;
Rich Text
Instant download
Description
The Chattel Form Paper with Lines in Clark is a legal document that facilitates the mortgaging of mobile homes by outlining the terms and conditions between a mortgagor and mortgagee. It serves as a security agreement, detailing the collateral involved, which is the mobile home, and the financial obligations associated with it. The form contains critical sections for entering the names and addresses of both parties, the amount to be borrowed, and the terms of repayment. Users must fill out details related to interest rates, payment schedules, and insurance requirements while ensuring compliance with applicable laws. This form is particularly beneficial for attorneys, partners, and owners who need a straightforward way to secure loans against personal property. Paralegals and legal assistants can utilize it to assist clients in completing the form accurately while ensuring all necessary disclosures are made. The straightforward language makes it accessible for users with varying levels of legal experience, promoting clarity in the transaction. Overall, it is a vital tool for anyone involved in financing or securing chattel properties.
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FAQ
Chattel paper refers to a document used in secured transactions to sell property on credit while retaining some interest in the property.
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.
