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Chattel mortgages are frequently used by businesses to purchase new equipment. <\/p>
Heavy machinery has a long lifespan, and its purchase can be financed over some time by the seller, who in the event of default will want to keep a security interest in the machinery.<\/p>\n
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Along with maintaining a safe position for the seller at any given time, a chattel mortgage allows the buyer to use the equipment. <\/p>
If the buyer defaults then the seller can recover the equipment and sell it to recover losses from the loan balance.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t