Chattel Mortgage Form Formula In Travis

State:
Multi-State
County:
Travis
Control #:
US-0007BG
Format:
Word; 
Rich Text
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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FAQ

Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.

The Bottom Line Chattel mortgages are a little-known but potentially good option if you're looking to finance a manufactured home or heavy equipment. These loans are smaller than conventional loans and tend to have higher rates, but they have shorter terms and quicker payoffs.

A form of security interest, typically a legal mortgage, taken over tangible movable property (known as chattels).

A chattel mortgage shall not be valid against any person except the mortgagor, his executors or administrators, unless the possession of the property is delivered to and retained by the mortgagee or unless the mortgage is recorded in the office of the register of deeds of the province in which the mortgagor resides at ...

By chattel mortgage, personal property is recorded in the Chattel Mortgage Register as a security for the performance of an obligation. If the movable, instead of being recorded, is delivered to the creditor or a third person, the contract is a pledge and not a chattel mortgage.

Take the principal of your mortgage, which is the total amount you are borrowing from a lender, and divide it by 100. Next, round up the quotient to the nearest whole number. Take the result and multiply it by your state's specific mortgage recording tax rate. Finally, check for allowances.

Form TP-584 must be filed for each conveyance of real property from a grantor/transferor to a grantee/transferee.

More info

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. What Steps Should You Take to Qualify for a Chattel Loan?Travis Bowens was the most committed, diligent and efficient professional of all the various entities participating in our home buying process. The document provides instructions for completing an Excel mortgage calculator project.

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Chattel Mortgage Form Formula In Travis