What is the PPSR?
The Australian Financial Security Authority (“AFSA“) administers the Personal Property Securities Register (“PPSR“). The PPSR is a national online register that can provide information to help protect consumers when they are buying personal property such as cars, boats or artworks. It doesn’t include land or buildings.
The PPSR is an Australian register where details of security interests in personal property can be registered and searched.
If you check the PPSR before you buy something, you can find out if the personal property that you are buying has a security interest attached to it. It is important to search the PPSR because if the property is subject to a security interest, it is possible that the person with the security interest will repossess it. You can also register your own security interest with a PPSR account.
There are different ways you can conduct a search with the PPSR. You can search either by the grantor, by the individual item or by a PPSR number. A small fee of $2.00 is required to perform an online search which will provide you with a search certificate detailing the results of the search.
On the online noticeboard you can:
- Register a notice to show you have rights over personal property which secure a debt or obligation that someone owes you; and
- Check to see if someone has registered an interest over personal property you want to buy or lease.