PERSONAL PROPERTY SECURITY ACT

Personal Property Security Act: translation

Personal Property Security Act: PPSA - Personal Property Security Act
The system, for example, in British Columbia and most common-law provinces, whereby a person is required to register any interest that he has in the property of another before the security is valid. The Registry can therefore be used if an institution is considering taking security on various assets, or if a person is contemplating purchasing an item such as a vehicle and wants to ensure that he purchases it free and clear of any encumbrances. (Dictionary of Canadian Bankruptcy Terms)