chattel mortgage


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chattel mortgage

n.
A mortgage using movable personal property rather than real estate as security.

chattel mortgage

n
(Law) US and Canadian a mortgage on movable personal property
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.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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References in classic literature ?
By giving a chattel mortgage on their growing wheat, they borrowed enough, at twenty per cent, to buy seed corn and a plow.
Creditors whose credits are secured by a duly registered real-estate mortgage or chattel mortgage or duly constituted pledge are no longer required to file their claims against the assets of the closed bank.
Metro Finance offers Commercial Hire Purchase, Chattel Mortgage and Finance Lease products through its broker network.
Mon likewise claimed that he settled the chattel mortgage debt of Jay which was constituted over the house he built on Rey's land.
The fact that the Chattel Mortgage was not registered as a bill of sale and that it failed to comply with the Bills of Sale (1878) Amendment Act 1882 which thereby rendered it void and unenforceable did not entitle Mrs Bassano to keep the money loaned to her.