Chattel Mortgage

Business, Legal & Accounting Glossary

Definition: Chattel Mortgage



What is the dictionary definition of Chattel Mortgage?

Dictionary Definition


n. an outmoded written document which made a chattel (tangible personal asset) security for a loan of a certain amount. It has been replaced in most states by a security agreement, the form of which is designated in a Uniform Commercial Code as UCC-1. UCC-1 security agreements must be filed with a specific public agency (e.g. a state Secretary of State) to protect buyers of the personal property and lenders making loans secured by the property.


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Page URL
https://payrollheaven.com/define/chattel-mortgage/
Modern Language Association (MLA):
Chattel Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. December 04, 2020 https://payrollheaven.com/define/chattel-mortgage/.
Chicago Manual of Style (CMS):
Chattel Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/chattel-mortgage/ (accessed: December 04, 2020).
American Psychological Association (APA):
Chattel Mortgage. PayrollHeaven.com. Retrieved December 04, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/chattel-mortgage/

Definition Sources


Definitions for Chattel Mortgage are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 3 Views.