Personal Property Securities of Australia

What are your personal properties?  Personal properties include both tangible and intangible properties that are neither buildings or lands and fixtures attached to it.  Examples of personal properties are contract rights, intellectual properties, art, crops, machineries, vehicles and cars. 

For every property that you have, you would always want security over it such as Personal Property Securities or PPS.  PPS is specially important for your vehicles or cars simply because these are considered necessities.  As a necessity, there are times that you opt at buying a used car to save money.

Example pic
However, buying a second hand car has its risks such as the risk of getting a car that has money owing to it.  Because you want personal property securities over this particular purchase, it would be wise to have a vehicle information check or Vcheck first.  A popular Vcheck is the REVS Check.  Rev check is what is known as the Register of Encumbered Vehicles, a service that is readily provided by the government of Australia.  You can actually have REVS Check QLD if you want to try this service. 

REVS check in Australia is a free service and it is easy to use because it only requires the vehicle’s Registration Number (if he vehicle is registered), engine number and VIN or chassis number.  And this checking can be done online at http://www.revs.nsw.gov.au/ or by simply calling 13 32 20.

 

 

However, you need to be aware that there is now a new National Property Securities Register or PPSR which will replace the current REVS Check by early 2012.  The PPSR as a result of the Personal Properties Securities (PPS) reform of Australia aims to consolidate or bring together the different Commonwealth, state and territory laws and registers that pertain to security concerns of personal properties in Australia.

The PPSR will then become the national online register of personal properties in Australia to provide a comprehensive and more efficient service to the people of Australia.

Example pic