Chattel Form Paper Format In Collin
Category:
State:
Multi-State
County:
Collin
Control #:
US-0007BG
Format:
Word;
Rich Text
Instant download
Description
The Chattel Mortgage form for a mobile home in Collin serves as a legal document that facilitates the financing of personal property by allowing the Mortgagor to secure a loan through the pledged mobile home. Key features include sections that identify the Mortgagor and Mortgagee, detailed descriptions of the mobile home as collateral, and stipulations regarding payment terms, interest rates, and covenants that the Mortgagor must uphold, such as maintaining insurance on the collateral. Filling instructions guide the user to input relevant information including names, addresses, loan amounts, and the payment schedule. Editing is straightforward, but care must be taken to ensure all required details are accurately included and conform to local legal standards. This form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants in real estate transactions, providing a clear framework for securing financing against a mobile home. By following the provided guidelines, users can effectively utilize the form to protect their interests and ensure compliance with state laws regarding chattel mortgages.
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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.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
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.
