chattel mortgage

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  • noun

Words related to chattel mortgage

a loan to buy some personal item

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References in periodicals archive ?
Rey argued that he has nothing to do with Jay's debt and chattel mortgage.
a Chattel Mortgage can only be granted over tangible assets such as manufacturing facilities and inventories, but a Commercial Business Mortgage can also be granted over intangible assets such as intellectual property rights which is secured by way of pledge under PRC law;
Nwobike argued that from the fact that the bank would rely on the offer letters during the hearing of the case, as part of the conditions to draw down the overdraft facility, the respondent presented its board resolution accepting the facility and executed an undated bill of sale, chattel mortgage, among others and subsequently drew down and fully utilised the facilities.
Louis Joerger even executed a chattel mortgage with Jesse Carter, presumably to help pay legal expenses.
The statute also says the definition "includes a security agreement, chattel mortgage, conditional sales contract, or other similar instrument.
The chattel mortgage was a legal invention of the nineteenth century and a financing device for personal property.
The only difference is that a chattel mortgage pledges personal property as security for the loan instead of real estate.