Chattel Form Paper With Axis In Oakland
Category:
State:
Multi-State
County:
Oakland
Control #:
US-0007BG
Format:
Word;
Rich Text
Instant download
Description
The Chattel form paper with axis in Oakland is a legal document used to establish a chattel mortgage on a mobile home. This form enables a mortgagor to secure a loan with personal property, specifically a mobile home, as collateral. Key features of this document include the identification of the mortgagor and mortgagee, detailed descriptions of the collateral, and payment terms, including interest rates and monthly installments. Filling instructions emphasize the need for accurate personal and property details, including street addresses, loan amounts, and interest percentages. Additionally, the form stipulates the responsibilities of the mortgagor, such as ownership confirmation, insurance requirements, and adherence to conditions regarding the collateral. It's particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants who may facilitate financing transactions or assist clients in legal obligations regarding personal property mortgages. Use cases include securing loans for purchasing mobile homes, applying for refinancing options, or establishing legal agreements around mobile home ownership. This document is essential in ensuring compliance with state laws and protecting the interests of both parties in the mortgage agreement.
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FAQ
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.
