What is CHATTEL MORTGAGE? What does CHATTEL MORTGAGE mean? CHATTEL MORTGAGE meaning & explanation. Definition of mortgage online
What is CHATTEL MORTGAGE? What does CHATTEL MORTGAGE mean? CHATTEL MORTGAGE meaning & explanation video duration 3 Minute(s) 36 Second(s), published by The Audiopedia on 01 05 2017 - 14:00:03.
http://www.theaudiopedia.com What is CHATTEL MORTGAGE? What does CHATTEL MORTGAGE mean? CHATTEL MORTGAGE meaning Amortization is the process of spreading out a loan into a series of fixed payments over time.
http://www.theaudiopedia.com What is CHATTEL MORTGAGE? What does CHATTEL MORTGAGE mean? CHATTEL MORTGAGE meaning Everyday we post a new Mortgage definition!. A mortgage is an agreement which allows you to borrow money from a bank or similar organization, especially in order to buy a house or apartment, or the .
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What is CHATTEL MORTGAGE? What does CHATTEL MORTGAGE mean? CHATTEL MORTGAGE meaning - CHATTEL MORTGAGE definition - CHATTEL MORTGAGE explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
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.
In Australia, chattel mortgages are commonly used by companies, partnerships and sole traders to fund the purchase of cars, commercial vehicles and other business equipment.
Under Australian Taxation Office rules, businesses that account for GST on a cash basis are entitled to claim an Input Tax Credit for all of the GST contained in the purchase price of the chattel on their next Business Activity Statement.
Repayment of chattel mortgages in most Australian states attract stamp duty.
Chattel mortgages in England and Wales are seen as a form of security interest (or \
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