Definitions for "CHATTEL MORTGAGE"
A pledge of personal property as security for a debt.
An interest given on moveable property (chattel) other than real property, in writing, to guarantee the payment of a debt or the execution of some action. It automatically becomes void when the debt is paid or the action is executed. An interest on real property is termed a "mortgage".
A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property.
a loan agreement whereby the mortgagor borrows funds to purchase equipment, and takes ownership of this equipment
Keywords:  lien, facility, loan, assets, estate
A lien on assets other than real estate backing a loan.
a loan facility