søknad om salgspantlån

English translation: chattel mortgage or secured transaction

22:03 May 20, 2017
Norwegian to English translations [PRO]
Bus/Financial - Business/Commerce (general) / bank loan
Norwegian term or phrase: søknad om salgspantlån
Ifølge gjeldende regler for salgspant må lånet utbetales til segler.
David Rumsey
Canada
Local time: 06:00
English translation:chattel mortgage or secured transaction
Explanation:
It might depend on what type of loan we are dealing with. However, according to Black's Law Dictionary (9th ed.), a "chattel mortgage" is a "mortgage on goods purchased on installment, whereby the seller transfers title to the buyer but retains a lien securing the unpaid balance". More simply put, "loan arrangement in which an item of movable personal property is used as security for the loan" (http://www.investopedia.com/terms/c/chattelmortgage.asp).

Note that a simple Google for "chattel mortgage" yields a lot of results from Australia.

Another possible option is "secured transaction": (see Black's Law Dictionary; https://www.law.cornell.edu/wex/secured_transactions); and Article 9 of the UCC (Uniform Commercial Code).

See also "salgspantlån" in the context of a car loan: "Dersom du vurderer å ta opp et salgspantlån bør du være oppmerksom på enkelte ting som skiller salgspantlånet fra for eksempel et boliglån. Salgspant må avtales for hele salgsgjenstanden. Det er for eksempel ikke mulig å avtale at halve bilen skal være beheftet med salgspant" (https://www.finansportalen.no/andre-valg/artikler/verdt-a-vi...
Selected response from:

Nikolaj Widenmann
United States
Local time: 07:00
Grading comment
Vendor lien seemed to fit the context
2 KudoZ points were awarded for this answer



Summary of answers provided
3 +1chattel mortgage or secured transaction
Nikolaj Widenmann


Discussion entries: 1





  

Answers


3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
chattel mortgage or secured transaction


Explanation:
It might depend on what type of loan we are dealing with. However, according to Black's Law Dictionary (9th ed.), a "chattel mortgage" is a "mortgage on goods purchased on installment, whereby the seller transfers title to the buyer but retains a lien securing the unpaid balance". More simply put, "loan arrangement in which an item of movable personal property is used as security for the loan" (http://www.investopedia.com/terms/c/chattelmortgage.asp).

Note that a simple Google for "chattel mortgage" yields a lot of results from Australia.

Another possible option is "secured transaction": (see Black's Law Dictionary; https://www.law.cornell.edu/wex/secured_transactions); and Article 9 of the UCC (Uniform Commercial Code).

See also "salgspantlån" in the context of a car loan: "Dersom du vurderer å ta opp et salgspantlån bør du være oppmerksom på enkelte ting som skiller salgspantlånet fra for eksempel et boliglån. Salgspant må avtales for hele salgsgjenstanden. Det er for eksempel ikke mulig å avtale at halve bilen skal være beheftet med salgspant" (https://www.finansportalen.no/andre-valg/artikler/verdt-a-vi...


    https://www.finansportalen.no/andre-valg/artikler/verdt-a-vite-om-smalan/
Nikolaj Widenmann
United States
Local time: 07:00
Specializes in field
Native speaker of: Native in DanishDanish, Native in EnglishEnglish
PRO pts in category: 14
Grading comment
Vendor lien seemed to fit the context

Peer comments on this answer (and responses from the answerer)
agree  Charlesp
4 hrs
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