Ontario personal property security legislation

Ontario's personal property security legislation establishes rules for creating, registering, and enforcing security interests in personal property—assets like equipment, inventory, or loans—used as collateral for debt. It helps lenders secure their rights to collateral if borrowers default, by allowing them to register a security interest on a public registry. This system clarifies priority rights among multiple creditors and provides processes for repossession or sale of collateral to recover owed money, promoting confidence in lending and borrowing while balancing the rights of debtors.