Personal Property Register
BoatWiki - Definitions
Definition
A personal property register (PPR) can be defined in boating terms as a governmental recording agency that records loan security agreements, liens, and claims against boats. PPRs are also known a Personal Property Security Registers (PPSR).
Meaning
Personal property registers are foreign equivalents of the Uniform Commercial Code (UCC) system here in the United States.
Context
PPR searches are not usually a factor unless a transaction involves a foreign registered or licensed boat.
Conclusion
Boaters should be aware of these systems when dealing with transactions involving foreign registered or licensed boats. They can usually be researched online, but may require the services of a public record provider for the respective jurisdiction.
Credits and References
5/16/2022 - Page initiated by Team BoatWiki.
