Chattel Mortgages. Part 2
Kansas
Must be filed with the register of deeds of the county where the property is located, and where the mortgagor resides if he resides within the state. It is valid for two years from the date of filing. Must be renewed within thirty days preceding expiration by affidavit showing the amount unpaid. Is valid as to third parties on stock of merchandise remaining in the possession of the mortgagor if the mortgagor acts as agent for the mortgagee when sales are made. Also valid on after acquired property if the mortgage provides therefor.
Kentucky
Must be recorded with the county clerk where the property is located. It is valid for five years after the maturity of the debt if no note has been given, and for fifteen years where a note has been given. No renewal is necessary. Is valid as to third parties on stock of merchandise remaining in the possession of the mortgagor if the goods can be identified, but is not valid on after acquired property.
Louisiana
Chattel mortgages are unknown in this state.
Maine
Must be recorded in the office of the town clerk where the mortgagor resides, and if the mortgagor does not reside in the state must be recorded in the county where the property is situated. No renewal is necessary. Is valid as to third parties on stock of merchandise remaining in possession of the mortgagor, but is not valid on after acquired property.
Maryland
Must be recorded within twenty days in the office of the clerk of the circuit court where the mortgagor resides, or if he does not reside in the state must be recorded in the county where the property is located. No renewal is necessary.
Massachusetts
Must be recorded within fifteen days with the town clerk where the mortgagor resides. If the mortgagor is a non-resident, the mortgage must be recorded where the property is located. No renewal is necessary. Is valid as to third parties on stock of merchandise remaining in possession of the mortgagor, but is not valid on after acquired property.
Michigan
Must be filed with the city or town clerk where the mortgagor resides. Remains in force for one year, and must be renewed within thirty days preceding expiration by affidavit showing amount unpaid. Is valid as to third parties on stock of merchandise remaining in possession of the mortgagor and on after acquired property if the mortgage so provides.
Minnesota
Must be filed with the city, town, or village clerk where the mortgagor resides and where the property is located. Remains in force for six years after filing as against creditors or subsequent mortgagees or purchasers. No renewal is necessary. Husband and wife must join, and two witnesses and an acknowledgment are necessary. Is not valid as to third parties on a stock of merchandise remaining in the possession of the mortgagor, but if the mortgage so recites it is valid on after acquired property.
Mississippi
Must be recorded with the chancery clerk where the property is located. If property is removed, it must be re-recorded within one year. No renewal is necessary. It is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor, but is valid on after acquired property.
Missouri
Must be filed or recorded with the record where the mortgagor resides. Is valid for five years if filed, and during the life of the debt if recorded. No renewal is necessary. Is not valid as to third parties on a stock of merchandise remaining in possession of the mortgagor unless the proceeds of sales go to the mortgagee in reducing the mortgage debt. It is not valid on after acquired property unless the mortgagee takes possession before creditors secure a lien.
Montana
Must be filed with the county clerk where the mortgagor resides. If he does not reside in the state, must be filed in the county where the property is located. Is valid until sixty days after the debt matures, not exceeding, however, one year and sixty days. Must be renewed within sixty days after the debt becomes due by filing an affidavit in the office where the mortgage is filed, setting forth the amount due. Is valid as to third parties on stock of merchandise remaining a possession of the mortgagor if made in good faith and proceeds of the sale go to the mortgagee.
Nebraska
Must be filed with the county clerk where the mortgagor resides, and if he does not reside in the state, must be filed in the county where the property is situated. Is valid for five years against others than the parties, but it is not valid as to third parties on stock of merchandise in possession of the mortgagor, or on after acquired property.
Nevada
Must be recorded in the office of the recorder where the mortgagor resides and where the. property is located. Remains in force for six years from maturity of the debt. No renewal is necessary If the mortgage is recorded, it is valid as to third parties on stock of merchandise remaining in possession of the mortgagor.
New Hampshire
Must be recorded with the town clerk where the mortgagor resides. If he does not reside in the state, must be recorded in the county where the property is situated. No renewal is necessary. Is not valid as to third parties on a stock of merchandise remaining in the possession of the mortgagor unless the proceeds of this sale go to the mortgagee in reduction of the mortgage debt.
New Jersey
Must be recorded with the county clerk or register of deeds where the mortgagor resides. If he does not reside in the state, must be recorded in the county where the property is situated. Need not be renewed. If recorded, it is valid as to third parties on a stock of merchandise remaining in possession of the mortgagor. If the mortgage so provides it is valid on after acquired property.
New Mexico
Must be filed or recorded with the probate clerk where the property is located. Remains in force for one year. Must be renewed within thirty days preceding its expiration by affidavit showing the amount unpaid. Crops can not be mortgaged until they have matured and are harvested. It is not valid as to third parties on a stock of merchandise remaining in possession of the mortgagor.
Chattel Mortgages. Part 3
New York
Must be filed with the register of New York City or the county clerk if in a county seat, otherwise with the town clerk where the mortgagor resides If the mortgagor does not reside in the state, the mortgage must be filed in the county where the property is situated. Remains valid for one year as against subsequent mortgagors and purchasers. Must be renewed within thirty days preceding expiration by statement showing the amount due. Is not valid as to third parties on a stock of merchandise remaining in possession of the mortgagor unless the mortgagor is in possession as agent for the mortgagee and the sale is for his benefit. It is not valid on after acquired property.
North Carolina
Must be recorded with the register of deeds where the mortgagor resides. If he does not reside in the state, must be recorded in the county where the property is located. No renewal is necessary. It is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor unless the mortgagor has possession as the mortgagee’s agent and the proceeds go to the reduction of the mortgage debt. It is not valid on after acquired property.
North Dakota
Must be recorded with the register of deeds where the property is located. Remains in force for three years. Must be renewed within ninety days preceding the expiration of three years by affidavit showing the amount unpaid. Is valid as to third parties on a stock of merchandise remaining in the possession of the mortgagor if the mortgagor is required to account to the mortgagee for the proceeds of the sale. It is also valid on after acquired property.
Ohio
Must be filed with the township clerk, or the recorder, if in the county seat where the mortgagor resides. If the mortgagor does not reside in the state, must be filed in the county where the property is situated. Remains in force for one year. Must be renewed within thirty days after the expiration by an affidavit showing the amount unpaid. Is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor unless the mortgagee takes possession before the third party makes a levy or unless the mortgagor is by the terms of the mortgage made agent for the mortgagee and required to account to the mortgagee for all sales. Is not valid on after acquired property unless the property is actually delivered to the mortgagee or the mortgagee takes possession before other rights intervene.
Oklahoma
Must be filed with the register of deeds where the mortgagor resides if a resident of the state; if not, where the property is located. Remains in force for three years. Must be renewed within thirty days preceding expiration by affidavit showing the amount unpaid. It is valid as to third parties on stock of merchandise remaining in possession of the mortgagor, but is not valid on after acquired property.
Oregon
Must be filed or recorded with the county clerk where the mortgagor resides. If he does not reside in the state, must be filed or recorded in the county where the property is located. Remains in force for one year and must be renewed within thirty days preceding expiration by affidavit showing the amount unpaid, unless it is executed and acknowledged as a real estate mortgage and recorded, in which case no renewal is required. Is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor or on after acquired property.
Pennsylvania
Must be recorded with the county recorder or register where the mortgagor resides. If the mortgagor does not reside in the state, must be recorded in the county where the property is located. Only specific articles can be mortgaged. Must be renewed within three months after maturity. Is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor or on after acquired property.
Rhode Island- Must be recorded with the town clerk where the mortgagor resides. If he does not reside in the state, must be recorded in the county where the property is located. No renewal is necessary. If properly recorded, it is valid as to third parties on stock of merchandise remaining in the possession of the mortgagor, but is not valid on after acquired property as against creditors who secure a lien before the mortgagee takes possession.
South Carolina
Must be recorded within forty days with the register of conveyances where the mortgagor resides. If he does not reside in the state, must be recorded in the county where the property is located. No renewal is necessary. It is valid as to third parties on stock of merchandise remaining in the possession of the mortgagor and also on after acquired property.
South Dakota
Must be filed with the register of deeds where property is located. Remains in force for three years. Must be renewed within thirty days preceding expiration by an affidavit showing the amount unpaid. It is valid as to third parties on stock of merchandise remaining in the possession of the mortgagor, provided the mortgagor is required to account to the mortgagee for the proceeds of sales. It is also valid on after acquired property.
Tennessee
Must be filed or recorded with the register of deeds where the mortgagor resides. If he does not reside in the state, must be filed or recorded in the county where the property is located. Remains in force for six years. Need not be renewed. Is not valid as to third parties on a stock of merchandise remaining in the possession of the mortgagor, nor on after acquired property.
Texas
Must be filed with the county clerk where the mortgagor resides. If he does not reside in the state, must be filed in the county where the property is located. Need not be renewed. Is not valid as to third parties on stock of merchandise remaining in the possession of the mortgagor.
Utah
Must be recorded in the office of the recorder where the mortgagor resides. If he does not reside in the state, must be recorded in the county where the property is located. Remains in force for one year. Must be renewed within thirty days after one year from filing by affidavit showing amount unpaid. It is not valid after five years. Is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor.
Vermont
Must be recorded in the city or town clerk’s office where the mortgagor resides. If he does not reside in the state, must be filed in the county where the property is situated. Need not be renewed. It is valid as to third parties on stock of merchandise remaining in possession of the mortgagor. If possession is taken, it is valid on after acquired property.
Virginia
Must be recorded in the county or city clerk’s office where the property is located. Need not be renewed. Is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor unless the mortgagor has possession as mortgagee’s agent, and the proceeds go to the reduction of the mortgage debt, but it is not valid on after acquired property.
Washington
Must be filed and recorded with the county auditor where the property is located. Remains in force for two years if less than $ 300; if over $ 300, for the life of the debt. May be renewed within two years by an affidavit showing the amount unpaid. It is valid as to third parties on stock of merchandise remaining in possession of the mortgagor, but the mortgage should be so drawn that the mortgagor must apply sales in payment of mortgage debt. It is valid on after acquired property.
West Virginia
Must be recorded with the county clerk where the property is located, and if property is removed must be re-recorded within three months. No renewal is necessary. It is not valid as to third parties on stock of merchandise remaining in possession of the mortgagor, nor is it valid on after acquired property.
Wisconsin
Must be filed with the city or town clerk where the mortgagor resides. If he does not reside in the state, must be filed in county where property is located. Remains in force for two years. Must be renewed within thirty days preceding the expiration by an affidavit showing the amount unpaid. It is valid as to third parties on stock of merchandise remaining in possession of the mortgagor, provided sworn statements are filed every sixty days, showing amount of goods sold, amount added, and payment made on mortgage debt, but is not valid on after acquired property.
Wyoming
Must be recorded in the county clerk’s office where the property is located. Remains in force for two months after the debt is due. If property is removed, mortgage must be re-recorded. Must be renewed within sixty days after maturity of the secured debt. It is valid as to third parties on stock of merchandise remaining in the possession of the mortgagor, provided the proceeds of the sales are applied to the debt secured. It is also valid on after acquired property.
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