chattel mortgage Synonyms
No Synonyms and anytonyms found
chattel mortgage Meaning
Wordnet
chattel mortgage (n)
a loan to buy some personal item; the item (or chattel) is security for the loan
chattel mortgage Sentence Examples
- She obtained a chattel mortgage to finance the purchase of her new car.
- The farmer used a chattel mortgage to buy machinery for his agricultural operations.
- Businesses often utilize chattel mortgages to acquire equipment and other movable assets.
- The bank approved his application for a chattel mortgage, securing the loan against the purchased goods.
- He defaulted on his chattel mortgage, leading to the repossession of the financed items.
- The lender assessed the value of the chattels before approving the chattel mortgage.
- A chattel mortgage offers businesses flexibility in obtaining financing for various assets.
- Individuals may choose a chattel mortgage over other forms of financing for its simplicity and quick processing.
- The terms and conditions of the chattel mortgage outlined the rights and responsibilities of both the borrower and the lender.
- The farmer repaid his chattel mortgage ahead of schedule, avoiding additional interest charges.
FAQs About the word chattel mortgage
a loan to buy some personal item; the item (or chattel) is security for the loan
No synonyms found.
No antonyms found.
She obtained a chattel mortgage to finance the purchase of her new car.
The farmer used a chattel mortgage to buy machinery for his agricultural operations.
Businesses often utilize chattel mortgages to acquire equipment and other movable assets.
The bank approved his application for a chattel mortgage, securing the loan against the purchased goods.
