Personal Property Securities Register

You need to make sure that the personal property you are buying does not have a security interest over it. The Personal Property Securities Register lets lenders and businesses to register their security interests. Secured parties, buyers and other interested parties can search the register to find out if a security interest is registered over the personal property.

 

The national register of Personal Property Securities

  • Personal property listed on the PPS Register includes assets that may be used to secure a loan, such as cars, boats, crops, and intellectual property.
  • The PPS Register does not include real estate property, such as houses or land. The PPS Register is web-based and accessible to search and register security interests 24 hours a day, seven days a week.

What are Personal Property Securities?

Personal property is any form of property other than land, buildings or fixtures which form a part of that land. It can include tangibles such as cars, art, machinery and crops; as well as intangibles such as intellectual property and contract rights. A personal property security is when a secured party takes an interest in personal property as security for a loan or other obligation, or enters into a transaction that involves the supply of secured finance.  An example is when a person borrows money from a bank and offers it as collateral or security for the loan. The bank's interest over the collateral is a personal property security.

What is the Personal Property Securities Register?

The PPS Register enables lenders and businesses to register their security interests. Secured parties, buyers and other interested parties can search the PPS Register to find out if a security interest is registered over the personal property.

Why should buyers use the Personal Property Securities Register?

Buyers need to make sure that the personal property they are buying does not have a security interest over it. For example, if you buy a car that still has money owing on it, the car could be repossessed by the person who lent money against it. Buyers will be able to search the PPS Register to see if there are any security interests over personal property they want to buy.

Where do I get more information?

Refer to the Personal Property Securities website for more information.

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