Ultimately, the company's lead operations required a massive real estate effort involving hundreds of land leases, purchases, options, rights of refusals, mineral rights, chattel mortgages, deed transfers, quit-claims, trust deeds, judgment sales, sheriff s sales, bankruptcy sales, grants, bonds, notes, and various claims from area miners covering thousands of acres and hundreds of parcels of land.
12.
For a chattel mortgage to be a legal mortgage, it must transfer legal title to the chattel ( or chattels ) to the secured party ( typically the lender ) and include an express or implied proviso that the legal title will be transferred back to the debtor upon repayment ( known as the equity of redemption ) . ( If the chattel mortgage does not meet the statutory requirements for a legal mortgage it may nevertheless be re-characterised as an equitable mortgage or fixed or floating charge .)
13.
For a chattel mortgage to be a legal mortgage, it must transfer legal title to the chattel ( or chattels ) to the secured party ( typically the lender ) and include an express or implied proviso that the legal title will be transferred back to the debtor upon repayment ( known as the equity of redemption ) . ( If the chattel mortgage does not meet the statutory requirements for a legal mortgage it may nevertheless be re-characterised as an equitable mortgage or fixed or floating charge .)
14.
On January 10, 2008, Edgardo Urieta, Sandiganbayan chief of the Sheriff and Security Services Office released the two-page report ( based on thirteen-page Banco de Oro to the Sandiganbayan Special Division ) which discovered intact due to the 2001 levy by BIR distraint-P 1.107 billion ( $ 1 = P 41 ) account of Joseph Estrada : P500 million-" promissory note and chattel mortgage "; 450 million shares of Waterfront Philippines valued at P 427.5 million; and 300 million shares of Wellex Industries worth P 84 million; cash deposits in a common trust fund investment account of P 95.76 million.
15.
Another form of security interest which flourished in the United States in the late 19th century and the first half of the 20th century was the conditional sale, the ancestor of what U . S . lawyers now call the purchase money security interest ( PMSI ) . 85 } } It was popular in that era among creditors for two reasons . 85 } } First, most U . S . states had imposed numerous onerous restrictions upon chattel mortgages in order to protect debtors ( at a time debtor's prisons were being abolished but were still within the memory of most persons then living ), and second, all U . S . states in that era also had strict anti-usury laws . 85 } } Conditional sales, at least initially, were seen to be free of both of those problems . 85 }}
