- Chattel Mortgage
- A term used when describing a mobile or manufactured home mortgage. Specifically when the home is not financed with the land.
These homes are commonly found in communities or parks.
Investment dictionary. Academic. 2012.
Chattel Mortgage
Look at other dictionaries:
Chattel mortgage — Chattel mortgage, sometimes abbreviated CM, is the legal term for a type of loan contract used in some states with legal systems derived from English law. Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable… … Wikipedia
chattel mortgage — see mortgage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. chattel mortgage n … Law dictionary
Chattel mortgage — Mortgage Mort gage (m[^o]r g[asl]j; 48), n. [F. mort gage; mort dead (L. mortuus) + gage pledge. See {Mortal}, and {Gage}.] 1. (Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and … The Collaborative International Dictionary of English
Chattel mortgage — Chattel Chat tel, n. [OF. chatel; another form of catel. See {Cattle}.] (Law) Any item of movable or immovable property except the freehold, or the things which are parcel of it. It is a more extensive term than goods or effects. [1913 Webster]… … The Collaborative International Dictionary of English
chattel mortgage — An interest that is given by one person in, say, a piece of property such as a piano to another person to secure a debt. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 … Glossary of Bankruptcy
chattel mortgage — noun a loan to buy some personal item; the item (or chattel) is security for the loan • Hypernyms: ↑mortgage * * * noun : a mortgage of chattel property as opposed to estate * * * a mortgage on household, movable, or other personal property.… … Useful english dictionary
chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security … Black's law dictionary
chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security … Black's law dictionary
chattel mortgage — An archaic term for a security agreement. American Banker Glossary A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property. Bloomberg Financial Dictionary … Financial and business terms
chattel mortgage — a mortgage on household, movable, or other personal property. [1855 60, Amer.] * * * … Universalium
