A Detailed Guide to PPSR Search

The official register of a security interest in personal property is known as the PPSR (Personal Property Security Registration) system. The register is maintained by the Government of Australia. Interests related to a PPSR search are primarily in the areas of debts and other obligations. An example is personal property being under lien to a financial institution because of debts outstanding against it.

This online noticeboard is available to people round the clock and anybody can access it for a PPSR search. To establish your claim and inform everybody that you have a security interest over certain personal property, you should register it on the PPSR. 

Launched on 30th Jan 2012, this register came as a substitute for the then prevailing similar registers in different states. Some of the registers that were replaced are the REVS and other vehicle registers, the ASIC Register of Company Charges, and others. All these entities were combined to form a single register that was optimized for the whole country.

Every year, PPSR searches run into millions in Australia. There are specific types of properties whose details can be got from a PPSR search. These include cars, company assets, boats, cars, used goods, and intellectual property while land and fixtures have been kept outside its purview. Through a PPSR Certificate, you can know if any other person or financial institution has registered a security interest over it. This information comes in handy if you are buying a property or lending money against it.

You should also register property on the PPSR if you are selling on retention of title terms or consignment. Even if your client goes bankrupt, you can prove your rights over personal property through a PPSR Certificate.

Location: Australia

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