Chattel Mortgage


Definition of "Chattel mortgage"

Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Null And Avoid

In law, something that is not permitted or binding and as such, is not legally enforceable. An examp ...

Locked-in-period

Period of time interest rates are guaranteed by lock-in-clause. The guarantee period of time is long ...

A Priori

(1) Impact of a cause (reason) on something. (2) Theoretical base rather than actual experience. ...

Municipal Bond Insurance

Coverage that guarantees bond holders against default by a municipality. This form of financial guar ...

Industrial Insured

One who purchases insurance, usually property and liability and not life or annuities, by utilizing ...

Obligor

Individual or other entity who has promised to perform a certain act. For example, an insurance comp ...

Related Real Estate FAQ

What Are Paid Advertorials?

Paid advertorials are articles written by public relations professionals that have just one goal in ...

What Is Comprehensive Homeowners Insurance?

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damag ...

What Is A Subdivision?

A subdivision is a piece of land divided into several plots in which homes are built. ...

What Is Zoning?

Zoning is the laws that establish how a property can be used and what codes must be followed when er ...

What Is A Proprietary Lease?

A proprietary lease is lease used for co-ops that give the shareowners the right to live in a partic ...

What Do I Need To Know About Pet Insurance?

If you own a pet, i\'m sure you\'ve been in a situation where the vet bills have been much higher th ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How To Choose A Realtor What do Real Estate Attorneys do? 7 Tips for a First Time Homebuyer What is Earnest Money Should you Buy a Home with Cash?

FAQ

What is Disability Insurance? What is joint tenancy? What is a mortgage insurance premium (MIP)? What are discount points? What is an index?