Who would have guessed that even the law is a sucker for
perfection? The Personal Property Securities Register
(PPSR) implemented in 2012 subscribes to the
age-old adage that possession is nine-tenths of the law.
Even if you own the property, failure to register your interest
in whole or even part incorrectly on the PPSR can have far-reaching
consequences for your business.
Identifying your lease as a PPS lease provides you in a place of
highest priority in any situation where someone questions ownership
of the property. While this does not negate the validity of legal
title in a priority dispute, a registered security interest remains
the best way of safeguarding your personal property.
