FAQ: How does the PPSR work?
How does the PPSR work?
The PPSR provides a central register of security interests over personal property. It allows finance companies and other businesses to register their security interests over Personal Property. Additionally, it allows secured parties, buyers and other parties to search the PPSR and find out if a security interest is registered over a particular piece of personal property.
When a business or individual has a security interest registered with the PPSR over a particular particular piece of personal property, this indicates that they have certain rights over that personal property - typically the right to take ownership of it if the current owner does not meet certain obligations (commonly, defaulting on a loan).