Glossary
Personal Property Securities Register (PPSR)
The national register of security interests over equipment, vehicles, stock and other personal property. Where you learn what a seller's assets already secure.
In plain English
The PPSR is the Australian government register where security interests in personal property are recorded: the financier's interest in the trucks, the floorplan lender's interest in the stock, the bank's charge over the whole company. Anyone can search it for a few dollars.
For a buyer the question is simple: are the assets you think you are buying already promised to someone else's lender? Equipment on the depreciation schedule can still be under finance, and buying it does not clear the financier's interest unless the debt is dealt with at settlement.
Why a lender cares
Incoming lenders search the PPSR as a matter of routine, and unexpected registrations stall settlements while payout figures and releases are chased. Due diligence that includes PPSR searches surfaces these early, prices them into the deal, and keeps the finance timetable intact. The searches are a standard part of our Level 2 scope.
Sources: Personal Property Securities Register · ASIC: Search the registers
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