Chattel Mortgage Form With 2 Points In Philadelphia
Description
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FAQ
The word 'chattel' is akin to the word 'cattle' and in fact both words share a common origin in Medieval Latin and Old French. The word capital comes from the same root. Chattel slavery means that one person has total ownership of another.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
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.
Why is Chattel Important? Chattel is important because it allows you to sell off your properties when you no longer want to keep them. It also allows people to borrow or rent your properties through the establishment of a chattel mortgage. This means that having a chattel is a means of encouraging income flow.
To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own. We also recommend that you get title insurance.
To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own. We also recommend that you get title insurance.
Recording requirements in Pennsylvania require that all mortgages presented for recording must have the signature of the holder, owner, assignee on any mortgage presented for recording. The document should contain the full name, residence (including street number) and the address of such holder, owner or assignee.