Question
of the week
Question of the week

Curious. Interesting. Informative.

13 March 2015

Where's my car?

Personal Property Securities
Federal

Asked

What entitlement if any does a de facto partner have in registering an interest in her partner's vehicle on the PPSR?

There is an agreement in place between them whereby she is to be paid $300,000 from the sale of a property. However there will be a shortfall once the mortgage has been repaid.

Answered

In the absence of a written agreement creating a charge on the vehicle she would not seem to have a security interest capable of being recorded.

As is the case with caveats, a mere debt does not justify a charge.

Regards Mentor