Chattel Mortgage Form Formal Contract In Phoenix
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FAQ
Removing the encumbered status of the car on the LTO Certificate of Registration (CR) is done at the LTO. It can't just be any LTO office. It has to be done at the originating LTO branch office (the office where it was originally registered), or the LTO office stated on the Certificate of Registration (CR).
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 chattel mortgage shall not be valid against any person except the mortgagor, his executors or administrators, unless the possession of the property is delivered to and retained by the mortgagee or unless the mortgage is recorded in the office of the register of deeds of the province in which the mortgagor resides at ...
A woman became essentially a “chattel” (possession) of her husband; her wealth and possessions were all his. No wonder plot lines of so many early nineteenth century novels involve a poor and unscrupulous man seeking marriage to a rich heiress!
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
Chattels are defined as 'tangible moveable property'. A tangible object is one that you can touch. The asset has to be a physical asset such as a piece of machinery or a painting. There is no specific meaning for the term 'moveable' in the legislation.
Chattel refers to personal items, as opposed to actual land property. It was once used to describe slaves and cattle, which is why referring to something or someone as chattel isn't very nice — you're essentially saying they're just property, somehow less than human.
