Chattel Mortgage Form Format In Fairfax

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

Description

The Chattel Mortgage form format in Fairfax is a legal document that establishes a mortgage agreement between a mortgagor and a mortgagee, specifically concerning a mobile home identified as collateral. This form includes critical information such as the names and addresses of both parties, the details of the collateral, the amount of the mortgage, and the repayment terms. Users are required to fill in specific amounts, dates, and conditions regarding the loan and collateral. The form outlines covenants from the mortgagor to ensure ownership, maintain insurance, and restrict the use of the collateral without consent. It also addresses default conditions that allow the mortgagee to seize and sell the collateral if payments are not made. The clarity and organized layout of the form make it user-friendly for individuals with varying legal experiences. For the target audience of attorneys, partners, owners, associates, paralegals, and legal assistants, this form serves essential functions in drafting secure lending agreements, ensuring compliance with Virginia law, and facilitating the protection of lender interests.
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FAQ

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

To qualify for real estate tax deferral, you must be at least 65 years of age or permanently and totally disabled. Applicants who turn 65 or become permanently and totally disabled during the year of application may also qualify for tax deferral on a prorated basis.

Property Number - A unique number assigned to each vehicle by Fairfax County. This number will be used each year the vehicle is taxed. The first two digits will change to indicate the tax year. (i.e., 25999999999).

If you have the street address or legal description of the property, the Commissioner's Office can provide the ownership information. Contact the Real Estate Department at (540) 372-1207.

Property Number (On your Fairfax County property bill, look near the top or bottom right corner after "Include this Number on your Check:")

Land records are public documents that include: Deeds. Deeds of Trust. Financing Statements.

The biggest difference between a title and a deed is the physical component. A deed is an official written document declaring a person's legal ownership of a property, while a title is a legal concept that refers to ownership rights.

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.

A subject-to mortgage is a real estate investing strategy where a buyer purchases a property while leaving the existing mortgage in place.

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Chattel Mortgage Form Format In Fairfax