Chattel Form Paper For Sale In Wake

Q: What is tangible chattel paper?

(79) &quot; Tangible chattel paper &quot; means chattel paper evidenced by a record or records consisting of information that is inscribed on a tangible medium.

Q: Is chattel paper collateral?

The Uniform Commercial Code (UCC) defines chattel paper as a record or records that evidence both a monetary obligation and a security interest in or a lease of specific goods. Chattel paper provides lenders with a tangible form of collateral to secure their loans.

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

County:

Wake

Control #:

US-0007BG

Format:

Instant download

Description

The Chattel Mortgage on Mobile Home form serves as a legal document facilitating the sale or financing of a mobile home by providing a clear structure for mortgaging the property as collateral. It outlines the roles of the Mortgagor and Mortgagee, ensuring all necessary details, such as the property description, payment terms, and interest rates, are explicitly stated. Users must fill in specific sections, including names, addresses, loan amounts, and payment schedules, which can be easily edited for personalization. This form is particularly helpful for attorneys, partners, and legal assistants dealing with real estate transactions, as it clarifies obligations and protections concerning mobile home financing. Paralegals and legal assistants will benefit from the straightforward instructions provided in the form, making it easier to guide clients through the mortgage process. This document also safeguards the interest of all parties involved by detailing covenants and the implications of default. By using this form, users can ensure compliance with state laws while protecting their investments in mobile home property.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

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FAQ

(79) " Tangible chattel paper " means chattel paper evidenced by a record or records consisting of information that is inscribed on a tangible medium.

In the context of personal property, these types of objects are known as “chattels personal” and can either be tangible or intangible. Tangible personal property means that the chattel has a physical embodiment and are capable of being in someone's physical possession.

The Uniform Commercial Code (UCC) defines chattel paper as “a record or records that evidence both a monetary obligation and a security interest in or a lease of specific goods.” Chattel paper provides lenders with a tangible form of collateral to secure their loans.

One or more documents that evidences both a monetary obligation and a security interest in, or a lease of, specific goods.