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A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
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.