Chattel Form Paper With Axis In Pennsylvania

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

Description

The Chattel Mortgage on Mobile Home is a legally binding document used in Pennsylvania to secure a loan with a mobile home as collateral. It outlines the responsibilities of the Mortgagor, who is borrowing funds, and the Mortgagee, who is lending the money. Key features include detailed information about the mobile home, the amount secured, payment terms including interest rates and installment schedules, and covenants ensuring the Mortgagor's ownership and right to mortgage the collateral. Filling instructions require accurate completion of all fields including names, addresses, and monetary values. The form is suitable for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for securing loans against movable property. It highlights the legal obligations of both parties and serves to protect the interests of the lender while offering a flexible arrangement for the borrower. Specific use cases include financing a mobile home purchase or refinancing an existing loan. This form aids legal professionals in ensuring their clients are adequately informed and protected in such transactions.