Under a chattel mortgage, the debtor starts out with title to the goods, gives it to the creditor, and earns it back upon the final payment.

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Under a chattel mortgage, the debtor retains title to the goods and grants a security interest in the goods to the creditor. Upon full payment of the debt, the security interest is extinguished and the debtor regains full ownership of the goods.

Under a Chattel Mortgage, the Debtor Starts Out with Title