Chattel Form Paper With Axis In Riverside
Category:
State:
Multi-State
County:
Riverside
Control #:
US-0007BG
Format:
Word;
Rich Text
Instant download
Description
The Chattel Mortgage on Mobile Home is a legal document designed to secure a loan by using a mobile home as collateral. This form requires the Mortgagor to provide specific information such as the identities of the Mortgagor and Mortgagee, the total loan amount, interest rate, payment schedule, and details regarding the mobile home being mortgaged. Key features of the form include the establishment of ownership rights, obligations to insure the collateral, and restrictions against selling or disposing of the mobile home without consent. It also outlines the conditions under which the Mortgagee may seize the collateral in case of default. Filling out this form involves entering accurate details and obtaining necessary signatures from both parties along with notarization. This Chattel form is particularly useful for attorneys, partners, and owners involved in real estate transactions, as it provides a clear framework for securing loans against mobile homes. Paralegals and legal assistants will benefit from understanding this form to facilitate client transactions effectively. Associates can use this document in drafting agreements or notices related to mobile home financing, ensuring all legal requirements are satisfied.
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FAQ
The se- curity or lease interest is embodied in a writing which evidences the debt. This writing constitutes the "chattel paper," which may consist of a conditional sales contract, a chattel mortgage, a security agreement or a chattel lease,2 with or without an accompanying negotiable instru- ment.
