Why Should You Carry Out A PPSR Search

The Personal Property Security Registration (PPSR) is the official register of security interest in personal property maintained by the Government of Australia. Records of interest are generally related to debts and other obligations in the form of lien on personal property. Anybody can have a PPSR search done round-the-clock for a specific property through an online noticeboard.

Searches are in millions every year, so important is it while buying and selling personal property. It was on 30th Jan 2012 that the PPSR was first started and substituted many state-based registers including the REVS and other vehicle registers, the ASIC Register of Company Charges, and others that together merged to become one national register. 
The definition of personal property to carry out a PPSR search is related to cars, company assets, boats, used goods, and intellectual property but does not include land or fixtures. A search can be done to know if anybody has registered a security interest over personal property so that one can be cautious before buying or lending money against it.

PPSR search

Why should you carry out a PPSR search?

Through a search, you can get insights into personal property that will help you to make a correct decision before investing in it. You will know whether the goods or property you want to invest in are free from any financial encumbrances. This will allow you to later have clear title without any lien and fear of repossession after you have paid for it. Moreover, you should register your interest in property so that you can prove your rights through a PPSR Certificate.

The PPSR search process is controlled by the Registrar of Personal Properties Securities appointed by the Attorney General’s Department.

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