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Definition of «chattel»

The term chattel refers to personal property that is moveable and not real estate. It can be anything from livestock, furniture or equipment, to a motor vehicle or even money. Chattels are assets that can be bought, sold, leased, mortgaged or otherwise disposed of in lawful transactions. The term comes from the Old French word "cattle," meaning movable property or goods.

Usage examples

  1. In the legal context: Chattel refers to movable personal property, such as furniture, vehicles, and livestock. For example, "The couple signed a prenuptial agreement that clearly outlined the division of chattel in case of divorce."
  2. Historical context: During the era of slavery, enslaved individuals were considered chattel, treated as property to be bought, sold, and inherited. For instance, "The plantation owner viewed the enslaved people working in the fields as his chattel, with no regard for their basic human rights."
  3. Economic context: Chattel can also refer to assets that can be borrowed against or used as collateral. For instance, "The entrepreneur used his valuable collection of rare paintings as chattel to secure a loan for his new business venture."
  4. Real estate context: Chattel can be used to describe personal property that is not permanently affixed to a building or land. For example, "The buyer negotiated to include the high-end appliances and custom-made furniture as part of the chattel in the purchase of the luxury penthouse."
  5. Banking context: Chattel mortgage refers to a loan secured by movable personal property, such as a car or equipment. For instance, "The small business owner obtained a chattel mortgage to finance the purchase of new machinery for his manufacturing company."

Phrases with «chattel»

Sentences with «chattel»

  • Unfortunately, the rise of conservative administrations across the US has already been blamed for references to both the book's title and the designation of women as chattel with offshoots of their male owners» names. (goodereader.com)
  • The GSEs have not purchased chattel loans for almost a decade. (manufacturedhousing.org)
  • Of an appropriate size for the aperture of the fireplaces and there to be enjoyed as fires in the rooms and not as chattels in themselves: on balance, fixtures. (newlawjournal.co.uk)
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See also

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