Chattel Mortgage Form Formal Contract In Fairfax

State:
Multi-State
County:
Fairfax
Control #:
US-0007BG
Format:
Word; 
Rich Text
Instant download

Description

The Chattel Mortgage form formal contract in Fairfax is a legal document used to secure a loan against a movable asset, specifically a mobile home, as collateral. This document outlines the agreement between the Mortgagor, who is borrowing money, and the Mortgagee, who is lending the funds. Key features of the form include detailed descriptions of the mobile home, the loan amount, interest rate, payment schedule, and the obligations of the Mortgagor regarding insurance and maintenance of the collateral. Filling instructions guide users to enter pertinent details like names, addresses, financial amounts, and dates accurately. Additionally, it specifies conditions under which the Mortgagee can reclaim the collateral in case of default. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in financing transactions, as it provides a clear and enforceable record of the terms of the loan. By utilizing this contract, legal professionals can ensure compliance with state laws and protect the interests of their clients in the event of a default.
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FAQ

You may view your tax information online or request a copy of the bill by emailing DTARCD@fairfaxcounty or calling 703-222-8234, TTY 711.

Overview of Fairfax County, VA Taxes In fact, Fairfax County holds a moderate average effective property tax rate of 1.03%, which compares well to the 0.90% national average. Because home values here are high, though, the median annual property tax payment in Fairfax County is $6,843.

The address of the Land Records Division is: Fairfax Circuit Court, 4110 Chain Bridge Road, Suite 317, Fairfax, VA 22030. The telephone number is 703/691-7320 (press 3, then 3). The office is open from a.m. – p.m. Monday through Friday.

Grantor's Tax $0.15 per $100 of value on deeds (for transportation).

Chat·​tel ˈcha-tᵊl. plural chattels. Synonyms of chattel. 1. : an item of tangible movable or immovable property except real estate and things (such as buildings) connected with real property.

A form of security interest, typically a legal mortgage, taken over tangible movable property (known as chattels).

The Bottom Line Chattel mortgages are a little-known but potentially good option if you're looking to finance a manufactured home or heavy equipment. These loans are smaller than conventional loans and tend to have higher rates, but they have shorter terms and quicker payoffs.

The following parties must sign a quitclaim deed for the agreement to become legally binding, as stated in Va. Code § 55.1-612: The grantor. A notary or two witnesses who authenticate the signature.

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Chattel Mortgage Form Formal Contract In Fairfax