What does chattel mortgage mean? chattel mortgage is defined by the lexicographers at Oxford Dictionaries as A mortgage on a movable item of property.
Definition of CHATTEL MORTGAGE: An instrument of sale of personalty conveying the title of the property to the mortgagee with terms of defeasance; and, if the terms of redemption are not The Law Dictionary Featuring Black’s Law Dictionary Free Online Legal Dictionary 2nd Ed.
Refinance Balloon Mortgage Interest Payable Definition In addition, they maintain accounts payable representing funds they owe. The interest on outstanding money in these accounts is accounted for as accrued interest on a company’s balance sheet (under assets in the case of receivables and under liabilities in the case of payables), though it represents money that has not yet been paid or received.Refinance a Commercial Balloon Mortgage There are many financing options available to small businesses and investors to finance commercial properties . While every lender requires some sort of down payment to purchase or refinance a commercial property or commercial real estate, not every CRE owner or potential borrower can afford a large down payment for the real estate.
: a mortgage having an interest rate which is usually initially lower than that of a mortgage with a fixed rate but which is adjusted periodically according to an index (as the cost of funds to the lender)
A chattel mortgage is a loan arrangement in which an item of movable personal property acts as security for a loan. The movable property, or chattel, guarantees the loan, and the lender holds an.
chattel mortgage – a loan to buy some personal item; the item (or chattel) is security for the loan mortgage – a conditional conveyance of property as security for the repayment of a loan
2019-08-24 · Chattel mortgage definition: a mortgage on movable personal property | Meaning, pronunciation, translations and examples
Chattel Mortgage. A transfer of some legal or equitable right in Personal Property as security for the payment of money or performance of some other act. Chattel mortgages have generally been superseded by other types of Secured Transactions under the Uniform Commercial Code (UCC), a body of law adopted by the states that governs commercial transactions.
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Chattel mortgage definition, a mortgage on household, movable, or other personal property. See more.
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Definition of ‘Chattel Mortgage’ Definition: Chattel mortgage is a loan extended to an individual or a company on a movable property. Here, the ‘chattel’ or the movable personal property which could be a car or a mobile home can be used as a security to extend the loan.
Contents Bankrate calculator mortgage. ? 6. define chattel Federal. statute 87.202 Define mortgage. mortgage synonyms chattel definition, a movable article of.