Interpreting PPSR search results

The information about security interests that is recorded on the personal property securities register (PPSR) is likely to be relevant to the following transactions, among others:

• • taking security over personal property;
• • buying or leasing personal property;
• • acquiring shares in a company that has granted security interests; and
• • entering into a commercial relationship generally with an organisation or an individual.

In these scenarios, legal practitioners may want to search the PPSR to learn:

• • who are the secured creditors with whom an organisation or an individual has existing relationships; and
• • what security interests exist in the personal property that is the subject of a transaction.

This guidance note looks at some practical aspects of the interpretation of PPSR search results, including:

• • how to manage incomplete descriptions of collateral in search results;
• • how to distinguish between narrow securities and broad securities; and
• • how to deal with search complexities.

See Interpreting PPSR search results.