What is PPSR?

PPSR stands for Personal Property Securities Register and is Australia’s online register used to record security interests in property. It is a public noticeboard that shows when a person or business has a legal interest over a certain asset.

Property in this context covers a range of things like vehicles, equipment, stock, intellectual property and accounts receivable. In some cases, a business can even lose its claim over an asset it originally owned.

A common real-world example occurs on construction sites. If a subcontractor leaves equipment or materials on a job site and the head contractor or site owner later enters liquidation, those assets can potentially be claimed as part of the insolvent company’s property. Without a PPSR registration showing the subcontractor’s interest in those assets, it can be very difficult to recover them.

The PPSR Registry is also commonly used when buying and selling motor vehicles. A search on this registry allows you to check whether there is any existing finance owing on the vehicle or reported as stolen or written off. The current cost for a search is $2, making it an inexpensive check and providing piece of mind when purchasing used vehicles.

Overall, the PPSR is something small businesses with valuable assets should be aware of and understand how to use. Whether it is registering an interest in equipment supplied to customers or simply checking the history of a motor vehicle before purchase, the register is a simple tool that can help protect a business from unexpected losses.