chattel mortgage

American  

noun

1. a mortgage on household, movable, or other personal property.

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chattel mortgage British  

noun

1. a mortgage on movable personal property

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Etymology

Origin of chattel mortgage

An Americanism dating back to 1855–60

Example Sentences

In equity, on the other hand, a chattel mortgage, though not good as a conveyance, is valid as an executory agreement.

From Encyclopaedia Britannica, 11th Edition, Volume 6, Slice 1 "Châtelet" to "Chicago" by Various

"I see," he said, "you are only the caretaker really, the brewer having an assignment of the lease and a chattel mortgage on your fixtures and stock."

From The Honorable Peter Stirling and What People Thought of Him by Ford, Paul Leicester

Sometimes the chattel mortgage sharks collect one hundred per cent, or more and the banks, which are established for the purpose of making small short-time loans, usually collect twenty to thirty per cent.

From In His Image by Bryan, William Jennings

Thereupon in marched your implement and other creditors with a chattel mortgage on everything you had—except the missus and the kids and the baby's bottley-by!

From Deep Furrows by Moorhouse, Hopkins

Chattel Mortgage.—A chattel mortgage is a conveyance of personal property, as distinguished from real property, to secure the debt of the lender or mortgagor.

From Putnam's Handy Law Book for the Layman by Bolles, Albert Sidney