Here are our PPSR Searching Tips and Traps.
- Grantor details are not recorded for security interests in serial numbered consumer property (required to be registered by serial number which is not all serial numbered property);
- If grantor details are recorded, the PPSR is case sensitive;
- Migration from other registers (e.g. ASIC) has not been without technical issues.
a quick search of the PPSR may not be enough.
You need to consider:
- Searching by serial number (when a serial number is required – e.g. motor vehicles)
- Conducting grantor searches by multiple criteria including – Name (with case variations); ABN, ACN, Name abbreviations (with case variations)
- Obtaining contractual warranties that the property is not subject to encumbrance.
How far you go and how many searches you conduct will be a judgement call based on the value of the property and the likelihood that it may be subject to a security interest.
For more information regarding our PPSR Searching Tips and Traps
Please contact our Business Development Team or call us on (07) 3252 0011 to book an appointment with one of our specialist Commercial Lawyers today.