PPS – Personal Property Security Australia
The way Australian businesses and individuals register their personal property security (
Prior to the overhaul, personal property securities were governed by more than 70 state- and territory-specific laws. This made registering an interest both unnecessarily complicated and, at times, very costly.
The new register brings Commonwealth, State and Territory interests in line under one national web-based system. The
The 2009 Personal Property Securities Act (PPSA) specifies which types of personal property can be listed as a security interest. Qualifying items include:
Financial properties and patents are exempt and thus can’t be listed. Land, plus any buildings or fixtures situated on that land, also can’t be registered.
Once an asset or interest has been listed on the PPSR, interested buyers, banks and other secured parties can conduct a search to track it. The
Sounds a bit complicated? That’s where PPSR.com.au comes in. Our
Get started with