To secure the loan, EVERTEX executed a real estate and chattel mortgage on its machineries in favor of PBCom. A chattel mortgage is used to purchase moveable property, such as manufactured homes.Recent changes in buyerbroker compensation has made waves in real estate, leading to buyer broker fees in realty transactions. In Courtois, this court determined that two contracts for the sale of the same parcel of real estate involved identical subject matter. With a regular mortgage, the lender isn't the owner but holds a lien on the property, allowing it to take possession in the event of a default. (mortgage) in the case of any total acquisition.