|PPSA -RSLA Lien Registrations
-Equipment and Chattel Liens
The PPSR - Personal Property Security registration system is a public database. This registration system is maintained under the Personal Property Security Act (PPSA) and Repair Storage Liens Act (RSLA). The purpose of the registration system is to provide information concerning collateral subject to a secured transaction. This system can be searched to determine whether an item of personal property has been used to secure a loan or is subject to a lien.
Creditors such as banks; credit unions or private consumers who secure payment of a debt by taking a security interest in the personal property of their debtor register a financing statement under the PPSA.
Any repair shops, or storage facilities who repair or store articles and who, prior to receiving full payment give up possession of that article, can register a claim for lien under the RSLA Repair Storage Liens Act.
By utilizing and protecting your registrations in the system pursuant to these Acts helps to establish priorities between individuals with competing interests in the same personal property. In the case of a claim for lien it will also ensure that the non-possessory lien (RSLA) is enforceable against third parties.
All information is kept current through the registrations of financing change statement (PPSA) or change statement (RSLA)
Bailiff Fees ONLY $35.00 per lien registration.
* plus disbursements (MTO Abstracts, Lien Searches, Registered Letter fees)
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