What is the PPSR?

July 25, 2014

padlock and chainThe PPSR stands for Personal Property Security Register.

Consumers and business operators can search the PPS Register when they need to know whether certain personal property has a security interest registered against it.

The PPS Register is a single point of contact register for consumers, businesses and the finance industry.

The PPS Register will be used in many situations including:

  • finance companies that provide loans on the basis that they receive a security interest in an item of personal property to register their interest in the property on the PPS Register
  • business operators who sell personal property on credit, consignment, or on a retention of title arrangement to register their interest in the property on the PPS Register, and
  • consumers who are about to purchase personal property, such as valuable second goods, to search the register  before buying to make sure that the property is free of a security interest.

The Register can be accessed electronically seven days a week, 24 hours a day.

Use of the PPS Register is voluntary

If you are considering buying any item of high value (like a car, truck, trailer etc) from a private individual it is important to make sure there is no other security registered against it.  The most common use of the PPSR is for motor vehicles.  The Register can tell you whether the vehicle is under finance, has ever been reported stolen, has ever been reported as a write off – and even the build date of the vehicle.  If you are considering finance for a large purchase Astute will check the register for you free of charge as part of our service.

If you would like to know more about the PPSR you can visit give us a call here at Astute.

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