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chattel

chattel definition - legal

Any tangible property that is moveable or transferable. See also personal property and real property.

chattel personal

Any moveable property, tangible personal property, or an intangible right in such property (such as a patent). Also called personal chattel.

chattel real

Any interest in real property less than a freehold or a fee (such as an easement). Also called real chattel.

chattel mortgage

A lien on assets other than real estate that secures a loan.

chattel paper

A writing or writings that evidence a monetary obligation as well as a security interest in or a lease of specific goods. Generally used when a consumer buys goods on credit by signing a promissory note that promises payment in the future as well as grants the seller a security interest in the goods. See also accommodation paper and commercial paper.