"Chattel paper" means "chattel paper" as defined in paragraph (11) of subdivision (a) of Section 9102 of the Commercial Code.
§ 481.040.Chattel Paper
Title 6.5. Attachment · Chapter 1. Words and Phrases Defined · Last amended 2001 · Last verified July 28, 2026
In one sentenceSection 481.040 defines "chattel paper" for attachment purposes as "chattel paper" under the Commercial Code, a record showing both a monetary obligation and a security interest in or lease of specific goods.
Full Text of § 481.040
Plain-English Summary
Chattel paper typically shows up in equipment or vehicle financing — a promissory note paired with a security agreement or lease covering specific goods. Section 481.040 adopts the Commercial Code’s definition so that this title treats chattel paper the same way secured-transactions law does.
Chattel paper is also singled out later in § 481.225 as one of the categories the Attachment Law treats as "tangible personal property," which affects how a levying officer physically attaches it under § 488.435.
Frequently Asked Questions
What is a common example of chattel paper?
A financing record that combines a promissory note with a security agreement or lease covering specific goods — equipment or vehicle financing paperwork is a typical example under the Commercial Code definition Section 481.040 adopts.
How is chattel paper attached under this title?
Amendment History
EFFECTIVE 7/1/2001. Amended October 10, 1999 (Bill Number: SB 45) (Chapter 991).
Source & verification. Section text is reproduced verbatim from
the Deering's California Codes Annotated / vLex. Enacted by the California Legislature.
Last verified July 28, 2026.
· Official source
Also known as: chattel paper definition californiaattaching chattel paper attachment law