Chattel mortgage – Meaning

Chattel mortgage is debt instrument in which loan is extended to borrower on movable property.

Usually land and buildings are used as mortgage however when personal movable properties like appliances, car, jewelry, etc. are used rather than non movable properties, it is called a chattel mortgage.

Author: Vikas Yadav

Vikas Yadav is the chief author at MonetarySection. He is an MBA (finance) from NCU Gurgaon. He started his career in 2014 and at the same time he started this website to educate people about finance.

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