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.
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chattel mortgage

A mortgage loan using personal property such as automobiles, paintings, inventories, or real estate leases, but not real estate ownership, as security.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

chattel mortgage

A security interest in tangible personal property.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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.