Home » land mortgage

URGENT! Can land be subject to chattel mortgage?

Written By: admin on October 15, 2009 One Comment

i need your opinion, thanks a lot

Related Articles


Related Articles


Related Articles

Related Financial Planning Posts

Tags: , , , , , , , , , , , , , , , , , ,

Tags: , , , , , , , , , , , , , , , , ,

Digg this!Add to del.icio.us!Stumble this!Add to Techorati!Share on Facebook!Seed Newsvine!Reddit!Add to Yahoo!

Top incoming search terms for this post

One Response to “URGENT! Can land be subject to chattel mortgage?”

  1. MLaw on: 15 October 2009 at 12:06 pm

    Technically, no. "Chattel" by definition does not apply to land. But . . . just because a legal instrument claims to be a chattel mortgage does not mean it cannot encumber or cloud the title to land or the improvements on land. For instance a recorded chattel mortgage on the elevators, mechanical systems, pumps, & air-conditioners in a building will certainly encumber the building, if not the title. And just typing the term "chattel mortgage" on what is obviously NOT intended to be one doesn’t make it one. And finally, many real estate mortgages refer to and incorporate the terms and default provisions of simultaneously or earlier made chattel mortgages, which effectively makes them part of the real esate mortgage.

Leave a Reply:

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

  Copyright ©2009 Financial Planning, All rights reserved.| Powered by WordPress| Gandhi theme by Techblissonline.com