Tennessee Chattel Mortgage on Mobile Home
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How to fill out Chattel Mortgage On Mobile Home?
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FAQ
A chattel mortgage is used to purchase movable personal property, other than real estate, which serves as collateral for the loan until it's repaid. Farm equipment, livestock, farm assets, and mobile and manufactured homes are a few examples of property you could purchase with a chattel loan.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
Otherwise known as a ?Certificate of Title?, which comes in electronic or paper form, is proof of ownership of a mobile or manufactured home in the State of Tennessee.
Mobile home parks shall be located only in R-1MP zoning districts.
A chattel mortgage is a loan for a manufactured home or other movable piece of personal property, such as machinery or a vehicle. The movable property, called ?chattel,? also acts as collateral for the loan.
The ownership of a manufactured home is legally recorded by either obtaining a certificate of title from the county clerk or by filing an affidavit of affixation with the register of deeds.