Chattel Mortgage Form For Mobile Home In Middlesex
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Massachusetts law identifies certain information that all deeds must contain and defines how deeds must be signed and recorded. A deed that transfers title to Massachusetts real estate must comply with the rules described below, and its formatting should be consistent with state standards and local customs.
A deed will include a detailed description of the property, including property lines, and name the seller (grantor) and buyer (grantee). Both buyer and seller must sign a deed to make it official.
Any property owner in Massachusetts has online access to the deed to their property and the property record card used to generate their tax bill by their local assessors.
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.
In comparison to regular mortgages, chattel mortgages come with shorter terms which means they're repaid within 10-15 years in most cases. With a residential mortgage, the lender can retain a lien on the property which may or may not be the case with a chattel property mortgage.
A form of security interest, typically a legal mortgage, taken over tangible movable property (known as chattels).
The Massachusetts Homestead Act is a law under which a homeowner is protected by an Estate of Homestead. A homestead estate provides limited protection of the value of the home, up to $1,000,000, against unsecured creditor claims.
A lien can be placed on your home before and after you file a declaration of homestead, but no one can collect on the lien(s) that were placed on your home after you filed a declaration of homestead.