The chattel paper I'm most familiar with is the one that you should always go over before moving into a furnished apartment. Otherwise, the landlord can claim that you've damaged or removed items later on.
Just before moving in, I go over it with him or her, noting the condition of things like curtains and any white ware and sometimes even things like carpets or heating units. Then we both sign it and as long as I don't damage anything, I don't have to worry about it from then on.
Essentially, you're renting the appliances and curtains and things from the landlord, as well as the property and it's important to make that clear from both sides so that you can keep yourself safe from legal and financial trouble.