MLchartDataset catalogue

Chattel mortgage

Term · Law · MLC-T-LAW-000955

A security interest granted by a borrower to a lender over movable personal property (chattel) to secure the repayment of a debt. The borrower retains possession of the chattel, but the lender has the right to seize and sell it if the borrower defaults. This type of mortgage has largely been replaced by the Uniform Commercial Code's Article 9 security interests in many jurisdictions.

Table 1. Record
IdentifierMLC-T-LAW-000955
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000955",
  "term": "Chattel mortgage",
  "field": "Law",
  "definition": "A security interest granted by a borrower to a lender over movable personal property (chattel) to secure the repayment of a debt. The borrower retains possession of the chattel, but the lender has the right to seize and sell it if the borrower defaults. This type of mortgage has largely been replaced by the Uniform Commercial Code's Article 9 security interests in many jurisdictions.",
  "url": "https://mlchart.com/terminology/law/chattel-mortgage/"
}

Record 776 of 5,445 in Law terminology (MLC-0107). Request the full dataset.