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Chattel Mortgage on Mobile Home

Chattel Mortgage Form Formal Contract In Philadelphia

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

County:

Philadelphia

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.

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4.6

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FAQ

The Bottom Line. If you're looking to buy a modular home or movable piece of equipment, taking out a chattel mortgage could be right for you. These loans come with shorter terms and much lower processing fees. However, the interest rate will be higher than what you'd receive on a conventional mortgage.

To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own. We also recommend that you get title insurance.

How can I obtain information about liens and judgments? Where can I obtain property tax information? You can obtain tax information from the Office of Property Assessment (OPA) 601 Walnut Street .phila/OPA or the Department of Revenue located in the Municipal Services Building., 1401 JFK Blvd, concourse level.

How do I change, add or delete a name on a deed? This can only be done by recording a new deed showing the change. Many people think they can come to our office and change the present deed on record. However, once a document or deed is recorded, it cannot be altered or changed in any way.

The deed must have a minimum 10-point font and one-inch margins on all pages. The deed must identify the municipality and county where the real estate property is located. The deed must include a notary's acknowledgment for any signature on it. The deed must include relevant information about any transfer taxes due.

(a) An agreement of sale, other than for a cemetery lot, mausoleum or cremation space or opening, shall contain: (1) The date of the agreement. (2) The names of the buyer and seller. (3) A description of the property and the interest to be conveyed.

How to draft a contract between two parties: A step-by-step checklist Know your parties. Agree on the terms. Set clear boundaries. Spell out the consequences. Specify how you will resolve disputes. Cover confidentiality. Check the legality of the contract. Open it up to negotiation.

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Prove full repayment of a property loan. To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed.State law requires all contracts that will require a consumer to pay a fee to be in writing. Following the deed's guidelines, the borrower pays the lender back for the loan. Free Real Estate Purchase Agreement. Answer a few simple questions. In a Chattel Loan transaction, a disclosure is not required at the time of application and the disclosure at closing is less than a page. In Philadelphia, the "offer" is in the form of a contract which could be binding if the seller accepts. ContractsCounsel has assisted 82 clients with mortgage modification agreements and maintains a network of 45 real estate lawyers available daily.

Chattel Mortgage Form Formal Contract In Philadelphia

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