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

A note secured by chattel mortgage in the nature of the security is less extended and has the distinct hardship of future payment presented in the possible loss of the chattel offered as security.

From Rural Health and Welfare by Fairchild, George Thompson

If the loan is a small one, usually $10,000, it may be sold entire, the chattel mortgage assigned and the note indorsed to the buyer.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

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

A husband may give a chattel mortgage to his wife, and she in turn can give one to him.

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

"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