Types of agistment
An agistment is when you let someone graze their stock on your
land for reward.
Normally an agistment is a bailment. A bailment is simply where
one person (the bailor) gives possession of goods, such as stock,
to another person (the bailee), and the bailor has the right to
receive the goods back. When the agistment is a bailment, the stock
owner does not have a right to occupy the land and is not
responsible for looking after the stock.
An agistment can also be in the form of a licence or lease of
land rather than a bailment. This will be the case when the stock
owner has the right to enter the land and to look after the
stock.
PPSA
Under the Personal Property Securities Act 2009 (Cth)
(the PPSA), some kinds of bailment interests are
security interests governed by the PPSA. If an agistment falls
within this class of regulated bailments, the interest of the stock
owner will be a security interest under the PPSA. If it is a
security
