Register a security interest

How to register a security interest

This security interest (if the security is not land) can be registered on the Personal Property Securities Register (PPSR), a national registry detailing the nature and scope of interests over the property of a business or individual.

In order to register, you will need to provide information on the collateral (the item that acts as security), how long you want the registration to last, and the details of the grantor (the person or organisation providing the security). Payment must also be provided to register the security, and is dependent on how long you would like the registration to last.

In most circumstances, the registering party will have an obligation to notify the grantors that a registration on the PPSR has been created by sending them a copy of the verification statement received on completion of the online registration.

A registered security interest provides additional protection to the lender. If a security interest is not registered and the grantor becomes insolvent or bankrupt, the lender risks losing their security, which would then be distributed amongst other creditors.

If you would like to know more about registering a security interest on the PPSR, or have a security interest you would like to register, please contact us today