7 CFR § 1951.153 - Chattel security or note-only cases.

---
identifier: "/us/cfr/t7/s1951.153"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 1951.153 - Chattel security or note-only cases."
title_number: 7
title_name: "Agriculture"
section_number: "1951.153"
section_name: "Chattel security or note-only cases."
chapter_name: "RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE"
subchapter_number: "H"
subchapter_name: "PROGRAM REGULATIONS"
part_number: "1951"
part_name: "SERVICING AND COLLECTIONS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480."
cfr_part: "1951"
---


# 1951.153 Chattel security or note-only cases.

(a) If a loan secured by both real estate and chattels is paid in full, the chattel security instrument will be satisfied or released in accordance with subpart A of part 1962 of this chapter.

(b) When a loan is evidenced by only a note and the note is paid in full, RD will deliver the note to the borrower in the manner prescribed in § 1951.155(c) of this subpart.