PPSA

PPSA stands for Personal Property Securities Act, which is a law in several countries, including Canada and Australia. It governs the registration and enforcement of security interests in personal property. This means that if someone lends you money or gives you credit based on the value of your personal goods, such as a vehicle or equipment, they can register their interest in those goods. If you fail to repay, the lender has the right to take possession of those items. The PPSA aims to create a clear, organized system to protect both borrowers and lenders in transactions involving personal property.