From a security registration perspective, aircraft (such as
airplanes, helicopters, and jet planes) are unusual types of
personal property.
Aircraft financing is not unlike other kinds of financing,
whereby a lender loans money to someone to purchase property and
typically requires that the purchased property be used as
collateral to secure the loan. For typical financing
transactions in Saskatchewan, personal property collateral is
subject to registration in the Saskatchewan Personal Property
Registry governed by The Personal Property Security Act,
1993, Saskatchewan's provincial personal property security
legislation. The highly mobile nature of aircraft, though, creates
a unique security enforcement challenge for lenders, as aircraft
can be flown out of Canadian airspace into foreign jurisdictions,
where Canadian security laws may not be enforceable.
