Chattel Mortgage Form With Decimals In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-0007BG
Format:
Word;
Rich Text
Instant download
Description
The Chattel Mortgage Form with Decimals in Travis is a legal document that secures a mortgage on a mobile home, providing necessary details about the mortgagor and mortgagee, as well as terms related to the mortgage. This form outlines the responsibilities of the mortgagor, including payment terms, interest rates, and the conditions under which the collateral may be seized. It highlights the importance of ensuring that the mobile home is free from other encumbrances, and sets provisions for insurance and taxes related to the collateral. The form is designed for use by various legal professionals, such as attorneys, partners, owners, associates, paralegals, and legal assistants, facilitating secure transactions involving personal property financing. The document allows for clear-entry spaces for specifics like amounts and dates, making it easy to fill out. Users need to understand the significance of retaining possession of the collateral unless default occurs, and they agree to abide by the terms laid out to avoid foreclosure or other legal actions. By understanding this form’s provisions, legal professionals can ensure their clients are protected and informed throughout the mortgage process.
Free preview
Form popularity
FAQ
By chattel mortgage, personal property is recorded in the Chattel Mortgage Register as a security for the performance of an obligation. If the movable, instead of being recorded, is delivered to the creditor or a third person, the contract is a pledge and not a chattel mortgage.
A chattel mortgage must adhere to a prescribed form and execution process: It must be signed by the mortgagor in the presence of two witnesses. An affidavit affirming the mortgage's purpose and validity must be included and signed by the parties involved. The affidavit must be certified by an authorized officer.
