Chattel Mortgage Form With Two Points In Utah
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(3)(b) If a licensed entity stops doing business in Utah, the control persons as of its last day of operation are responsible for proper retention, maintenance, safeguarding, and disposal of records and customer information.
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.
The best chattel mortgage rates generally start from around 7.50% p.a. but can range up to 15% p.a. or higher for some borrowers. To get the best rate — i.e. the lowest rate — a borrower will want to present as little risk to the lender as possible.
Licensure required of person engaged in the business of residential mortgage loans. Except as provided in Subsection (1)(b), a person may not transact the business of residential mortgage loans without first obtaining a license under this chapter.
Real estate license exams predominantly adopt a multiple-choice format, usually comprising 100 to 150 questions. A notable portion of the exam is dedicated to math, a section that often intimidates many test-takers, although it constitutes only about 20% of the entire assessment.
A license request must be made within 90 days of passing the exam. Submit application to the Division. The checklist will help you provide a complete application and must be included with the following documents: All documents must be in PDF format before uploading them to the EGOV website.
A conveyance made by an owner of an estate for life or years, purporting to convey a greater estate than the owner could lawfully transfer, does not work a forfeiture of the estate, but passes to the grantee all the estate which the grantor could lawfully transfer.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
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.