Chattel Form Paper With Axis In Utah
Category:
State:
Multi-State
Control #:
US-0007BG
Format:
Word;
Rich Text
Instant download
Description
The Chattel Mortgage on Mobile Home form is crucial for users in Utah engaging in financing agreements for mobile homes. This document outlines the terms under which a mobile home, referred to as collateral, is mortgaged by the Mortgagor to the Mortgagee as security for a loan. Key features include detailed sections for the names and addresses of the parties involved, specifics about the loan amount, interest rates, and payment schedules. Filling instructions advise users to complete each section carefully, ensuring accurate representations of amounts and dates. The form must be signed and notarized to be valid, emphasizing the legal weight of this document. Attorneys, partners, and owners will find this form useful in structuring financing agreements, while paralegals and legal assistants can assist with drafting and ensuring compliance. Specific use cases include obtaining financing for a new mobile home purchase or refinancing an existing loan. It is imperative for all parties to understand their rights and obligations stipulated within the mortgage agreement.
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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.
