Chattel mortgage

Chattel mortgage
Mortgage Mort"gage (m[^o]r"g[asl]j; 48), n. [F. mort-gage; mort dead (L. mortuus) + gage pledge. See {Mortal}, and {Gage}.] 1. (Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made. [1913 Webster]

Note: It was called a mortgage (or dead pledge) because, whatever profit it might yield, it did not thereby redeem itself, but became lost or dead to the mortgager upon breach of the condition. But in equity a right of redemption is an inseparable incident of a mortgage until the mortgager is debarred by his own laches, or by judicial decree. --Cowell. --Kent. [1913 Webster]

2. State of being pledged; as, lands given in mortgage. [1913 Webster]

{Chattel mortgage}. See under {Chattel}.

{To foreclose a mortgage}. See under {Foreclose}.

{Mortgage deed} (Law), a deed given by way of mortgage. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

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  • Chattel mortgage — Chattel mortgage, sometimes abbreviated CM, is the legal term for a type of loan contract used in some states with legal systems derived from English law. Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable… …   Wikipedia

  • chattel mortgage — see mortgage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. chattel mortgage n …   Law dictionary

  • Chattel mortgage — Chattel Chat tel, n. [OF. chatel; another form of catel. See {Cattle}.] (Law) Any item of movable or immovable property except the freehold, or the things which are parcel of it. It is a more extensive term than goods or effects. [1913 Webster]… …   The Collaborative International Dictionary of English

  • chattel mortgage — An interest that is given by one person in, say, a piece of property such as a piano to another person to secure a debt. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • chattel mortgage — noun a loan to buy some personal item; the item (or chattel) is security for the loan • Hypernyms: ↑mortgage * * * noun : a mortgage of chattel property as opposed to estate * * * a mortgage on household, movable, or other personal property.… …   Useful english dictionary

  • chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security …   Black's law dictionary

  • chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security …   Black's law dictionary

  • chattel mortgage — An archaic term for a security agreement. American Banker Glossary A loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property. Bloomberg Financial Dictionary …   Financial and business terms

  • chattel mortgage — a mortgage on household, movable, or other personal property. [1855 60, Amer.] * * * …   Universalium

  • Chattel Mortgage — A term used when describing a mobile or manufactured home mortgage. Specifically when the home is not financed with the land. These homes are commonly found in communities or parks …   Investment dictionary

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