Chattel Mortgage Form Formula In Utah

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

Description

The Chattel Mortgage form for mobile homes in Utah serves as a crucial legal document for borrowing and lending scenarios involving movable property. This form allows a Mortgagor to provide a mobile home as collateral to a Mortgagee, effectively securing a loan. Key features of the form include the identification of the parties involved, a detailed description of the collateral, and terms regarding payments and interest rates. Users must fill in specific information such as the mortgagor's and mortgagee's names and addresses, the amount of the loan, interest rates, payment schedules, and various covenants. It is important for users to ensure all details are accurate and complete to avoid disputes. This form is particularly useful for attorneys, paralegals, and legal assistants in drafting financing agreements, as it clearly outlines obligations and rights concerning possession and security. Partners and owners can leverage the form to structure financing for mobile homes, while associates can assist in the drafting and review processes. Overall, this Chattel Mortgage form is a fundamental tool for securing loans where movable property is involved, ensuring clarity and protection for both parties.
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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 personal property that can be moved. Chattel includes things such as furniture and jewelry. Mobile homes are chattel because they are not a permanent part of the land and can be moved. Chattel quickly depreciates and improvements typically do not increase its value.

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

(b) An individual who knowingly violates a jail release court order or jail release agreement executed under Subsection 78B-7-802(2) is guilty of: (i) a third degree felony, if the original arrest was for a felony; or (ii) a class A misdemeanor, if the original arrest was for a misdemeanor.

Recklessly with respect to circumstances surrounding his conduct or the result of his conduct when he is aware of but consciously disregards a substantial and unjustifiable risk that the circumstances exist or the result will occur.

Notice of trustee's sale -- Description of property -- Time and place of sale. by mailing the notice, including the statement required under Subsection (3)(b), to the occupant of each dwelling unit on the property to be sold. The sale shall be held at the time and place designated in the notice of sale.

A quitclaim deed when executed as required by law shall have the effect of a conveyance of all right, title, interest, and estate of the grantor in and to the premises therein described and all rights, privileges, and appurtenances thereunto belonging, at the date of the conveyance."

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Chattel Mortgage Form Formula In Utah