chattel mortgage

chattel mortgage
chattel mortgage see mortgage

Merriam-Webster’s Dictionary of Law. . 1996.

chattel mortgage
n.
A mortgage placed on personal property to secure a debt; chattel mortgages have been mostly replaced by the Uniform Commercial Code’s security arrangements.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


chattel mortgage
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 a mortgage on something other than real estate. These agreements are now generally referred to as security agreements and are governed by the Uniform Commercial Code.
Category: Bankruptcy, Foreclosure & Debt → Debt & Collection Agencies
Category: Personal Finance & Retirement

Nolo’s Plain-English Law Dictionary. . 2009.


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 Chattel mortgages have generally been superseded by other types of secured transactions under the Uniform Commercial Code (UCC), a body of law adopted by the states that governs commercial transactions.

Dictionary from West's Encyclopedia of American Law. 2005.


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 Chattel mortgages have generally been superseded by other types of secured transactions under the Uniform Commercial Code (UCC), a body of law adopted by the states that governs commercial transactions.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

chattel mortgage
n.
   an outmoded written document which made a chattel (tangible personal asset) security for a loan of a certain amount. It has been replaced in most states by a security agreement, the form of which is designated in a Uniform Commercial Code as UCC-1. UCC-1 security agreements must be filed with a specific public agency (e.g. a state Secretary of State) to protect buyers of the personal property and lenders making loans secured by the property.
   See also: UCC-1

Law dictionary. . 2013.

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Look at other dictionaries:

  • Chattel mortgage — Chattel mortgage, sometimes abbreviated CM, is the legal term for a type of loan contract used in some states with legal systems derived from English law. Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable… …   Wikipedia

  • Chattel mortgage — Mortgage Mort gage (m[^o]r g[asl]j; 48), n. [F. mort gage; mort dead (L. mortuus) + gage pledge. See {Mortal}, and {Gage}.] 1. (Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and …   The Collaborative International Dictionary of English

  • Chattel mortgage — Chattel Chat tel, n. [OF. chatel; another form of catel. See {Cattle}.] (Law) Any item of movable or immovable property except the freehold, or the things which are parcel of it. It is a more extensive term than goods or effects. [1913 Webster]… …   The Collaborative International Dictionary of English

  • chattel mortgage — An interest that is given by one person in, say, a piece of property such as a piano to another person to secure a debt. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • chattel mortgage — noun a loan to buy some personal item; the item (or chattel) is security for the loan • Hypernyms: ↑mortgage * * * noun : a mortgage of chattel property as opposed to estate * * * a mortgage on household, movable, or other personal property.… …   Useful english dictionary

  • chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security …   Black's law dictionary

  • chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security …   Black's law dictionary

  • chattel mortgage — An archaic term for a security agreement. American Banker Glossary A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property. Bloomberg Financial Dictionary …   Financial and business terms

  • chattel mortgage — a mortgage on household, movable, or other personal property. [1855 60, Amer.] * * * …   Universalium

  • Chattel Mortgage — A term used when describing a mobile or manufactured home mortgage. Specifically when the home is not financed with the land. These homes are commonly found in communities or parks …   Investment dictionary

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