fɚɹə tʃˈæɾəl mˈɔːɹɡɪdʒ təbi ɐ lˈiːɡəl mˈɔːɹɡɪdʒ, ɪt mˈʌst tɹænsfˈɜː lˈiːɡəl tˈaɪɾəl tə ðə tʃˈæɾəl ɔːɹ tʃˈæɾəlz tə ðə sᵻkjˈʊɹd pˈɑːɹɾi tˈɪpɪkli ðə lˈɛndɚ ænd ɪŋklˈuːd ɐn ɛkspɹˈɛs ɔːɹ ɪmplˈaɪd pɹəvˈaɪzoʊ ðætðə lˈiːɡəl tˈaɪɾəl wɪl biː tɹænsfˈɜːd bˈæk tə ðə dˈɛɾɚɹ əpˌɑːn ɹᵻpˈeɪmənt nˈoʊn æz ðɪ ˈɛkwᵻɾi ʌv ɹᵻdˈɛmpʃən.
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).