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US Legal Forms
Rent
Chattel Mortgage on Mobile Home

Chattel Form Paper With Lines In Illinois

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

Control #:

US-0007BG

Format:

Word;

Rich Text

Instant download

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Description

A chattel mortgage is a term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan.

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FAQ

What is a chattel contract?

Chattel Contract means a Contract that is not secured by a mortgage on real estate on which the related Manufactured Home is situated, and which Manufactured Home is not considered or classified as part of the real estate under the laws of the jurisdiction in which it is located.

What is the purpose of chattel?

The purpose of a chattel mortgage is to secure financing for moveable property or chattel. Chattel mortgages can be used to finance vehicles, mobile homes, and even heavy equipment like tractors.