Chattel Mortgage Example?


A chattel mortgage is a loan given with movable personal property used as security. The assets held as security for a chattel mortgage cannot be fixed and such loans are common in the business world where they are used as a means to acquire new properties using operational equipment as chattel.
Q&A Related to "Chattel Mortgage Example?"
Chattel is personal property than may or may not be removed from a piece of property, but is not the property itself. For example, on a lot there is a house. The house is not chattel
Chattel mortgages are loan arrangements that involve the use of movable personal property as the security for the loan, rather than the actual real estate.
Chattel is any article of tangible property other than land, buildings, and other things annexed to land.
There are no antonyms for chattel. !
2 Additional Answers Answer for: what is a chattel mortgage
chattel mortgage
a mortgage on household, movable, or other personal property.
Chattel Mortgage is a type of a loan security, where an individual is able to secure a loan using movable assets such as cars, motorbikes as opposed to the most common immovable assets such as real estate. Legal ownership is transferred to the bank until the completion of the loan repayment.
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