chattel mortgage


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Chattel Mortgage

A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property.

chattel mortgage

A mortgage loan using personal property such as automobiles, paintings, inventories, or real estate leases, but not real estate ownership, as security.

chattel mortgage

A security interest in tangible personal property.

References in periodicals archive ?
For banks, they earn from chattel mortgage through car loans.
You can also negotiate the price of chattel mortgage and insurance, and maybe even spread out the payment over a certain period.
Dela Cruz said other assets in the IMA trust account, including a chattel mortgage for P500 million and 300 million shares of Wellex, may likewise be sold if the proceeds from the sale of the Waterfront shares were not enough.
The All-In Package includes free three-year LTO Registration and one year comprehensive insurance and chattel mortgage. It also includes free Periodic Maintenance Service (PMS) (parts and labor included) for up to 10,000 kilometers and a Shell fuel card worth P5,000.
The promo includes free chattel mortgage, three-year LTO registration and one year comprehensive insurance.
The main products offered within the portfolio are chattel mortgages (37.5%) and consumer loans (62.3%).
"We found chattel mortgages, which listed all property, from the number of chairs to the number of sheep or cattle owned.
Chattel mortgages can be considered and used as additional collateral.
In the 1950s, Boston microfilmed and later destroyed the hard copies of chattel mortgages filed with the City Clerk from 1830 to 1958.