chattel mortgage

Chattel mortgages may have more particular characteristics in different jurisdictions.

The security interest created is something like the old chattel mortgage or conditional sales contract.

Chattel mortgages over certain assets (such as ships and aircraft) are governed by more particular rules.

In the United States, chattel mortgages are referred to as secured transactions.

The chattel mortgage was, of course, turned over to the New York assignees with the other property.

Repayment of chattel mortgages in most Australian states attract stamp duty.

Personal property can often be secured with similar kind of device, variously called a chattel mortgage, trust receipt, or security interest.

Companies and other corporate entities may give chattel mortgages too over any tangible, movable property as security for a debt obligation.

Foreclosure of chattel mortgages (mortgage of movable property) are governed by Sec.

(2) Chattel mortgage legislation does not apply to a genuine contract of hire even in the case of a sale and leaseback.

In Australia, chattel mortgages are commonly used by companies, partnerships and sole traders to fund the purchase of cars, commercial vehicles and other business equipment.

Chattel mortgages in England and Wales are seen as a form of security interest (or "collateral") for lenders in certain financing scenarios.

Similarly, a chattel mortgage granted to allow a person to purchase a trailer home could be lost if the trailer is later attached to real property.

Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable personal property (the chattel) from the lender.

Regulate contract performance, auctions and registration of chattel mortgage; investigate and penalize illegal practices such as contract frauds.

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.

However, in the early history of the U.S. some of the first laws on chattel mortgages in the Anglo-American world were passed.

That's why I have used bikes; I had to take them back on chattel mortgages -and that's why you can't sell bikes.

Although some aspects of the proposed Lending and Security Act were included in this, Crowther's fundamental unifying concept of the 'chattel mortgage' was not.

At that time, a chattel mortgage upon the Telegram Publishing Co. property was made in favor of the John Dunfee estate for $25,918.

It has also been held that as regards chattel mortgages, the law does not prohibit that the foreclosure sale be done privately if it is agreed upon by the parties.

(If the chattel mortgage does not meet the statutory requirements for a legal mortgage it may nevertheless be re-characterised as an equitable mortgage or fixed or floating charge.)

Most Australian lenders offering commercial loan facilities (including chattel mortgage, hire purchase and finance lease) for cars, commercial vehicles and business equipment add retained interest to payout figures for loans that are terminated early.

Individuals (broadly, non-incorporated legal persons) may give a chattel mortgage over their personal property however it must be in the statutory form prescribed by the Bills of Sale Act 1878 and the Bills of Sale Act (1878) Amendment Act 1882 for it to constitute valid security.

First, most U.S. states had imposed numerous onerous restrictions upon chattel mortgages in order to protect debtors (at a time debtor's prisons were being abolished but were still within the memory of most persons then living), and second, all U.S. states in that era also had strict anti-usury laws.