Definitions
American Heritage® Dictionary of the English Language, Fourth Edition
- n. A mortgage using movable personal property rather than real estate as security.
GNU Webster's 1913
- n. (Law) a mortgage on personal property, as distinguished from one on real property.
- n. See under Chattel.
WordNet 3.0
- n. a loan to buy some personal item; the item (or chattel) is security for the loan
Examples
“He was to pay the rent, receiving a sub-lease from Bohlmann, who was only a lesee himself, and to give a chattel mortgage on the stock supplied him.”
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