Chattel Mortgage
Definition
- A loan that is certified by movable personal property such as a mobile or trailer home.
Synonyms
loan, secured by assets
Related Terms and Acronyms
- Chattel — Definition,
- Personal property that can be moved.
- Floater Insurance — Definition,
- Insurance that covers assets not commonly covered by an existing policy such as electronics or jewelry.
- Loan — Definition,
- Letting another party use something of value temporarily.
- Mortgage (mtg) — Abbreviation, Important,
- A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
- Personal Property (PP) — Acronym,
- Property that is movable and not permanently attached to a dwelling or structure.
- Property Insurance — Definition,
- Insurance that provides coverage for damages to property from a number of perils.
- Real Property — Definition,
- Permanent, non-movable property, such as land and buildings.
