n. an outmoded written document which made a chattel (tangible pe...

A mortgage secured by personal property.

An old term for an arrangement under which an item of personal property (chattel) serves as security (collateral) for a loan taken out to buy the item. Like a mortgage on a house, this was essentially [..]

Definition A lien on assets other than real estate backing a loan.

see mortgage

A commercial car finance product under which the customer takes ownership of the vehicle at the time of purchase, and the financier takes out a mortgage over the vehicle (chattel) as security.

A chattel mortgage is a debt facility that's secured by personal property. Chattel mortgages can be used to finance mobile homes, as long as the home isn't permanently affixed to the land. T [..]

A chattel mortgage is a mortgage that provides for a security interest in assets other than real estate to secure the loan. In the event of a default in payments, the lender has a lien in the assets u [..]

is similar to a hire-purchase agreement although the business owns the asset from the start. Chattel mortgages require regular ongoing payments and typically provide the option of reducing the payment [..]

A mortgage where the collateral is personal property, rather than land or buildings.

A mortgage given on chattels. Usually given as collateral security to a mortgage on real estate. As an example, a chattel mortgage on refrigerators and stoves in an apartment building.

A document evidencing a debt owed by the borrower (mortgagor) to the lender (mortgagee). The mortgage is secured by the lender against personal property owned by the borrower as collateral to ensure the repayment of the debt. These mortgages are governed by the Personal Property Security Act.

A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property.