Personal Property Security Register (PPSR) explained

It is crucial that people who have a security interest in personal property take it seriously or risk losing their security interests.

Many businesses are struggling to understand the implications of the Personal Property Security Register (PPSR).

In this article we have provided a simple summary and a timely warning about what to do, following changes that were implemented to the Personal Property Securities Act (PPS Act) in 2014.

The PPSR explained

The PPSR is a national, electronic register of security interests in personal property which was established on 30 January 2012.

It includes security interests in goods, vehicles, intellectual property and any other personal property, but does not apply to land.