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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Chattel


Synonyms:mobile home, movable possession, trailer home
Filed Under: financial-banking, mortgages
Tags: banking, mortgage
 

Definition of chattel

chattel
1. An article of movable personal property. Chattel is not widely used in the English language today.

Related Terms and Acronyms:

  • asset   Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
  • chattel mortgage   A loan backed by movable personal property. Generally mobile or trailer homes.
  • floater insurance   Insurance that covers assets not commonly covered by an existing policy such as electronics or jewelry.
  • loan   Letting another party use something of value temporarily.
  • mortgage (mtg)   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)   Property that is movable and not permanently attached to a dwelling or structure.
  • property insurance   Insurance that provides coverage for damages to property from a number of perils.
  • real property   Permanent, non-movable property, such as land and buildings.

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