A chattel mortgage involves the pledge of personal, movable property as security for a debt. This arrangement allows borrowers to use specific personal assets to secure financing.
A leasehold mortgage is a lien placed on a tenant’s interest in real estate, usually a long-term lease, to provide security for the repayment of a loan.
Security interest refers to a legal claim on collateral that has been pledged, usually to obtain a loan or other obligation.
A Vendor’s Lien, also known as a Purchase Money Mortgage, gives the seller a security interest in the property sold until the buyer pays the full purchase price.
