The Personal Property Securities Register (“PPSR”) is a register of securities or charges held, normally by lending institutions, over personal property such as chattels. It may be that the property that you are looking at has a new stove that was purchased on hire purchase. In that case, the hire purchase company would normally register a security in the PPSR.

It is important to search the PPSR prior to settlement to find out whether there are any such securities registered. If there are, you would want to have that security released prior to settlement. Your lawyer can carry out that search for you.