Legal Form: Contract Note: The item in a Chattel Mortgage can be anything movable of value. The example below is of a vehicle -its most common use today. You are free to copy, change or alter this legal document. It is however advised to consult with a lawyer before entering into any agreement or executing any legal document.

CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

    I, (Name of Mortgagor) of legal age, single/married to____________________ with postal address at _____________________________hereinafter known as the MORTGAGOR, and _________________________________ of legal age, single/married to ______________________ with postal address at _______________________________ hereinafter known as the MORTGAGEE, witnesseth:

         That the MORTGAGOR is indebted unto the MORTGAGEE in the sum of (Amount in Words) (000,000.00),  Philippine Currency, receipt of which is acknowledged by the MORTGAGOR upon the signing of this instrument, payable within a period of _____ years, with interest thereon at the rate of (___) % per annum;

        That for, and consideration of , this indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR hereby conveys by way of CHATTEL MORTGAGE unto the MORTGAGEE, his heirs and assigns, the following personality now in the possession of said MORTGAGOR

    That the condition of this obligation is that should the MORTGAGOR perform the obligation to pay the hereinabove cited indebtedness of (Amount in Words) (000,000.00) together with accrued interest thereon, this chattel mortgage shall at once become null and void and of no effect whatsoever, otherwise, it shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have hereunto set their hands, this ____day of ____________ 20___ at ____ Philippines.

 _______________________________             _______________________________

MORTGAGOR                                    MORTGAGEE

 IN THE PRESENCE OF:

_______________________________             _______________________________

ACKNOWLEDGEMENT

 
Republic of the Philippines)
 ________________________ ) S.S

BEFORE ME, personally appeared:

                          Name                             CTC Number                          Date/Place Issued

               (Name of Mortgagor)                    10000000                        Jan 01, __ / Quezon City
               (Name of Mortgagee)                   10000000                        Jan 11, __ / Las Pinas City

Known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL, on the date and place first above written.

                                                                                                              

                                                                                                               Notary Public

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20__.

Note: Chattel mortgages requires an Affidavit of Good Faith attached to it -sample below:

AFFIDAVIT OF GOOD FAITH

We, the undersigned MORTGAGOR AND MORTGAGEE hereby jointly and severally swear that we executed the foregoing Chattel Mortgage in order to secure the indebtedness therein and for no other purpose or purposes contrary to law.

____________________________                _____________________________
MORTGAGOR                                            MORTGAGEE

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Last modified: 23 January 2012