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A mortgage using movable personal property rather than real estate as security.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
(Law) US and Canadian a mortgage on movable personal property
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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|Noun||1.||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
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