Sale of a Business and the Personal Property Securities Register (PPSR)

Are you thinking of selling your business? Did you know most, if not all of the assets must be provided to the buyer free of all claims and charges? But how do you find out what claims and charges might be over your assets?

The Personal Property Securities Register or PPSR keeps a record of all claims and charges placed over your assets.

It is never too soon for a business owner, thinking of selling, to conduct searches of the PPSR to check what security interests have been registered over his or her business.

The PPSR is an online database, but it may be required to search it in different ways. Seeking advice from your lawyer will ensure you identify all registered assets.

If you have any questions about searching the register or any other aspect of selling a business, then please contact us on 07 5443 9988 or [email protected].

Argon Law is a law firm based in Maroochydore servicing the Sunshine Coast, Noosa and the hinterland.  We are commercial solicitors, body corporate lawyers and property lawyers and are eager to assist you in any way we can.

More Information

Are you thinking of selling your business? Did you know most, if not all of the assets must be provided to the buyer free of all claims and charges? But how do you find out what claims and charges might be over your assets?

It is never too soon for a business owner, thinking of selling, to conduct searches of the (PPSR) to check what security interests have been registered over his or her business.

If a search of the register is not done until a contract of sale is signed, or worse still, you wait until the buyer sends you a copy of its search, you may find it very difficult to arrange for all of the relevant charges to be dealt with in time for settlement. This can create difficulties that stall the sale, or even see buyers begin to seek to alter the contract.

It takes time to approach and make arrangements to obtain from financiers releases or undertakings that will satisfy the buyer. This may involve the financier attending at settlement to collect a cheque in exchange for its release. A situation that is best avoided.

Although it is an online database, conducting a search of your business on the PPSR is not always a straightforward process.

The register may need to be searched in a number of different ways to identify all charges relevant to your business.

If you have any questions about searching the register or any other aspect of selling a business, then please contact us on 07 5443 9988 or [email protected].

Argon Law is a Sunshine Coast law firm based in Maroochydore.  We are commercial lawyers, body corporate lawyers and property lawyers and are eager to assist you in any way we can.

VIEW ALL VIDEOS

View Youtube channel youtube.com/ArgonLawMaroochydore

Call: 07 5443 9988 or
Leave a comment or make an enquiry about Sale of a Business and the Personal Property Securities Register (PPSR)

To prevent automated spam submissions leave this field empty.

All rights reserved | Argon Law © Copyright 2017 Website by VA