chattel


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Related to chattel: chattel mortgage, Chattel Paper

chattel

(chăt`əl), in law, any property other than a freehold estate in land (see tenuretenure,
in law, manner in which property in land is held. The nature of tenure has long been of great importance, both in law and in the broader economic and political context.
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). A chattel is treated as personal property rather than real property regardless of whether it is movable or immovable (see propertyproperty,
rights to the enjoyment of things of economic value, whether the enjoyment is exclusive or shared, present or prospective. The rightful possession of such rights is called ownership.
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). Certain uses of the term (e.g., chattel mortgage) refer only to movable property. Otherwise the term also includes chattels real, i.e., those estates in land that do not constitute a freehold.
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chattel

1. Any article of property not consisting of or affixed to land; movable property.
2. Same as 1, above, plus any interest in land that is less than a freehold. When this nomenclature is used, the term chattel personal is employed to designate movables such as goods and money, and chattel real to designate less-than-freehold interests in real property, such as leasehold interests for a term of years.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.
References in periodicals archive ?
It said chattel mortgage will be registered with the local Registry of Deeds.
This back to Africa movement was led by organisations such as the American Colonisation Society, which helped relocate thousands of free African-Americans in Liberia, partly as a means of countering the chattel enslavement and overt racism in the US.
Chattel slavery considered persons as personal property that can be bought, sold and inherited as commodities.
For "real" property, Freddie plans to "work with lenders to increase Freddies Macs purchases of loans in this important market." And for "personal" property, Freddie plans to "initiate a chattel pilot offering" and "develop homebuyer education to support chattel financing."
Ultimately, however, economic need trumped their reservations and by the late seventeenth century the English had fully embraced a chattel slave system.
Therefore the question of whether the boat was treated as a chattel or part of the soil depended on the lease.
Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac issued and purchased manufactured-housing asset-backed securities--including personal, or chattel, loans--and they faced large losses, particularly for loans from 1999 and later.
"But one thing they agree on, it's going to be an Islamist hill and it's going to be a world dominated by their unforgiving creed, their violent ideology which rejects modernity, rejects human rights, rejects, puts women as chattel, all minorities are subjugated or eliminated," Netanyahu said.
The All-In Package includes free three-year LTO Registration and one year comprehensive insurance and chattel mortgage.
Among specific topics are leases of goods, perfection by possession, perfection on investment property and deposit accounts, sales and other transfers of collateral, chattel paper and account financing, and the foreclosure sale.
The Restatement explains public necessity: "One is privileged to commit an act which would otherwise be a trespass to a chattel or a conversion (25) if the act is or is reasonably believed to be necessary for the purpose of avoiding a public disaster." (26) Thus, someone acting with a public necessity has rightful access to any tools needed for the rescue.
It simply makes selling oneself as chattel more fashionable.