Create a document that outlines the agreement, including the type and amount of loan, the assets included in the mortgaged, and the terms of the agreement. A chattel mortgage is a loan used to purchase an item of movable personal property, such as a vehicle, which then serves as security for the loan.This document discusses key aspects of chattel mortgages under Philippine law. Chattel mortgage in British English. noun. A chattel mortgage is a loan that is made for the purchase of chattel. Carolina and Vermont? And Hawaii, chattel mortgage and conditional sales recording statutes still apply. I. "Industrial Accident Rates in the Business Cycle". A Study of the Experience of the California State Compensation. If the vehicle is financed, filing fees will be required to file a copy of your security agreement or chattel mortgage.