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 personal property (the chattel) from the lender. The lender then secures the loan with a mortgage over the chattel. Legal ownership of the chattel is transferred to the purchaser at the time of purchase, and the mortgage is removed once the loan has been repaid.

Chattel mortgages may have more particular characteristics in different jurisdictions.
Q5982983
states
Concept
Q1138780
English law
MEDIA
Q499094
chattel
Concept
Q184260
mortgage
Concept
Q5087916
Chattel mortgage
Concept
Q5087916
Chattel mortgage
Concept
subclass of