We are experts in helping our clients work with the Personal Property Securities Act (PPSA), which has changed the way security interests are dealt with across Australia and governs most security interests in personal property. Under the PPSA, personal property generally includes all property (tangible and intangible) other than land, fixtures, most water rights and some statutory licences. It includes goods or inventory, intellectual property, shares, debts and contractual rights.
Holders of a security interest in personal property must register that interest in the national online Personal Properties Securities Register to ensure that they have a priority claim to that property. Legal title is no longer enough, as this legislation has overturned fundamental personal property law concepts.