What is the usury law in North Carolina?

North Carolina interest rate laws set the maximum rate at 8 percent, but explicitly allow consumers and creditors to "contract for a higher rate." State law also exempts mortgage loans, equity lines of credit, and some other types of credit from the statutory limit.

Is a mortgage chattel paper?

The se- curity or lease interest is embodied in a writing which evidences the debt. This writing constitutes the "chattel paper," which may consist of a conditional sales contract, a chattel mortgage, a security agreement or a chattel lease,2 with or without an accompanying negotiable instru- ment.

How do I fill out a NC title as a seller?

Back of the title top right - sign name(s) on the line where it reads "Seller(s) Signature(s)." Back of the title right below where you signed name(s) - print name(s) on the line where it reads "Seller(s) Hand Printed Name(s)."

US Legal Forms
Rent
Chattel Mortgage on Mobile Home

Chattel Form Paper For Sale In North Carolina

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

Control #:

US-0007BG

Format:

Instant download

Description

A chattel mortgage is a term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan.

View Franchise agreement for restaurant

View this form

View Franchise agreement of jollibee

View this form

View Franchise agreement with

View this form

View Franchise agreement with city

View this form

View Franchise agreement with mcdonald's

View this form

Complaint For Employment or Workplace Disc...

View this form

Residential Room Lease Agreement

View this form

Form Rating

4.6

Satisfied(250)

Form popularity

FAQ

§ 24‑1. Legal rate is eight percent. Except as otherwise provided in G.S. 136‑113, the legal rate of interest shall be eight percent (8%) per annum for such time as interest may accrue, and no more.

North Carolina interest rate laws set the maximum rate at 8 percent, but explicitly allow consumers and creditors to "contract for a higher rate." State law also exempts mortgage loans, equity lines of credit, and some other types of credit from the statutory limit.

Chattel paper refers to a document used in secured transactions to sell property on credit while retaining some interest in the property.

The se- curity or lease interest is embodied in a writing which evidences the debt. This writing constitutes the "chattel paper," which may consist of a conditional sales contract, a chattel mortgage, a security agreement or a chattel lease,2 with or without an accompanying negotiable instru- ment.

Chattel property law is defined as any property that is not land or physical items that belong to the land. Chattel is movable goods and land cannot be moved. A house would not be considered chattel property because it is attached to the land.

Chattel is personal property that is movable between locations, as opposed to real property, which has a fixed location. Common examples include mobile homes, furniture, and automobiles. This article explains what chattel is and how it is used as security in chattel mortgages.

Back of the title top right - sign name(s) on the line where it reads "Seller(s) Signature(s)." Back of the title right below where you signed name(s) - print name(s) on the line where it reads "Seller(s) Hand Printed Name(s)."

In North Carolina, a lien claimant has 120 days from the date of last furnishing to complete these 3 steps: Fill out a mechanics lien form that meets NC requirements. File the lien with the county recorder's office. Serve a copy of the lien on the property owner.

To be validly registered pursuant to G.S. 47‑20, a mortgage, deed of trust or conditional sales contract, or any combination of these, of both personal property and real property must be registered pursuant to the provisions of G.S. 47‑20.1 for the real property covered by the instrument and pursuant to the provisions ...

More info

Chattel is a term for movable personal property, such as a mobile home, car, or houseboat. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.Search statewide judicial forms. Finally, this text offers advice on preparation for the North Carolina Real Estate Licensing Examination.

Chattel Form Paper For Sale In North Carolina

Description

Related forms

Viewed forms

Show more info

Form Rating

Form popularity

FAQ

What is the maximum interest rate allowed by law in NC?

What is the usury law in North Carolina?

What is considered chattel paper?

Is a mortgage chattel paper?

Which is not considered chattel?

What is considered a chattel?

How do I fill out a NC title as a seller?

How do you put a lien on a property in North Carolina?

How to file a lien on a property in North Carolina?

Does a deed have to be recorded to be valid in NC?

More info

Trusted and secure by over 3 million people of the world’s leading companies