Chattel Mortgage Form Formal Contract In San Diego
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FAQ
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.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
A form of security interest, typically a legal mortgage, taken over tangible movable property (known as chattels).
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.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
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!
