Priorities and registration

The guidance note on priorities and registration provides expert legal insights into securing and enforcing security interests over property, a critical consideration for lenders and secured parties. It addresses the complex legal framework governing the ranking and perfection of security interests, ensuring lenders understand how to obtain and protect priority over competing creditors.

Topics Covered

• Priority between personal property security interests
• Priority between real property security interests
• Contractual priority arrangements
• Registration of security interests over real property
• Registration of security interests over personal property

Essential Insights

• Assess how priority is determined between secured and unsecured creditors under Australian law.
• Understand default and special priority rules under the Personal Property Securities Act 2009 (Cth).
• Explore the nuances of “purchase money security interests” and their impact on priority rankings.
• Evaluate the effect of registration timing and methods on the enforceability of security interests.
• Consider the implications of contractual priority arrangements and priority deeds among secured parties.
• Identify key registration requirements and pitfalls when securing interests on the Personal Property Securities Register.