Chattel Mortgage Form Formula In Queens

State:
Multi-State
County:
Queens
Control #:
US-0007BG
Format:
Word; 
Rich Text
Instant download

Description

The Chattel Mortgage form formula in Queens is a legal document used to secure a loan with a mobile home as collateral. This form outlines the agreement between the Mortgagor, who is borrowing funds, and the Mortgagee, who is lending the money. Key features include the description of the mobile home, payment terms including interest rates and installment plans, and the stipulation that the Mortgagor retains possession of the collateral until a default occurs. The form mandates the Mortgagor to keep the mobile home insured and to inform the Mortgagee of any changes regarding the collateral. Filling out this form requires specific details like parties' names, addresses, loan amounts, and payment schedules. It is particularly useful for attorneys, partners, and legal assistants facilitating transactions involving mobile homes, providing a clear structured method to secure loans. Paralegals and associates can leverage this form to ensure compliance with relevant laws and protect the interests of all parties involved. Overall, the Chattel Mortgage form is vital for ensuring that lenders have legal recourse in case of payment defaults.
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FAQ

This disclosure will help you to make informed choices about your relationship with the real estate broker and its sales agents. Throughout the transaction you may receive more than one disclosure form. The law may require each agent assisting in the transaction to present you with this disclosure form.

The RP-5217NYC Real Property Transfer Report is a form (RPL Article 9, Section 333) used to document. the information associated with all real property transfers within New York City. Effective January 1, 2003, an. original RP-5217 form must accompany all deeds and correction deeds upon filing with the City Register or.

To change a deed in New York City, you will need a deed signed and notarized by the grantor. The deed must also be filed and recorded with the Office of the City Register. Transfer documents identifying if any taxes are due must also be filed and recorded with the City Register.

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.

The best chattel mortgage rates generally start from around 7.50% p.a. but can range up to 15% p.a. or higher for some borrowers. To get the best rate — i.e. the lowest rate — a borrower will want to present as little risk to the lender as possible.

A chattel refers to the movable or immovable personal property of an individual except real estate. Generally, the basic elements of a claim of trespass to chattels are lack of an owner's consent to trespass, interference with possessory interest, and intention of the trespasser.

Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.

A human being considered to be property; an enslaved person.

Definitions of chattel. noun. personal as opposed to real property; any tangible movable property (furniture or domestic animals or a car etc) synonyms: movable, personal chattel. personal estate, personal property, personalty, private property.

Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.

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Chattel Mortgage Form Formula In Queens