Lending & Mortgages

> PPSA & Securitization

PPSA stands for Personal Property Security Act. This Act outlines the rules for creditor’s interests in collateral in a credit transaction. When a debt is a secured debt, there is collateral guaranteeing that the debtor will repay the loan. If the debtor does not repay the loan, the “security” or the collateral can be seized by the lender. A number of different things can act as security, from a home or real property to personal property.

There are specific rules for perfecting a security interest, registering a security interest and enforcing a security interest. Lenders and debtors both must be aware of all rules set by the PPSA and associated with securitization.

Whether you are a debtor or a creditor, Porco Levy Zavet LLP can explain to you your rights and assist you in achieving the best possible outcome available under the PPSA.