Chattel Mortgage Form With 2 Points In Dallas

• Category: Loans and Lending - Chattel Mortgages
• State: Multi-State
• County: Dallas
• Control #: US-0007BG
• Format: Word; Rich Text

Description

The Chattel Mortgage Form with 2 points in Dallas is a legal document that establishes a security interest in a mobile home, allowing the Mortgagor to secure a loan from the Mortgagee. This form specifically provides details such as the parties involved, mortgage amount, interest rates, payment terms, and represents a legally binding commitment to repay the loan with specified collateral. Key features include provisions for maintaining insurance on the collateral, restrictions on selling or transferring the mobile home without the Mortgagee’s consent, and the consequences of default, including the possibility of seizure and sale of the mobile home. Filling out the form requires clear identification of the Mortgagor and Mortgagee, accurate financial details, and acknowledgment of the terms by both parties. It's imperative to ensure all information is complete and accurate to prevent future disputes. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in financing mobile homes, providing assurance to lenders while facilitating access to credit for borrowers. Legal professionals must guide clients through the complexities of this document to ensure compliance with Texas laws and to protect their interests.