British Columbia Personal Property Security Act

The British Columbia Personal Property Security Act (PPSA) is a law that helps protect lenders when financing or lending money for personal property, like vehicles, equipment, or inventory. It allows lenders to register a security interest, meaning they have a legal claim to the property if the borrower defaults. This registration helps determine priority among multiple creditors and ensures that, in case of default, the lender can recover their funds by seizing the property. The PPSA provides a clear, organized framework for secured transactions, promoting confidence and transparency in lending practices within BC.