A centralised computer registry serving the Canadian provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island. Individuals and institutions can record their financial interest in personal property such as motor vehicles, mobile homes, boats and other items. For example, if an individual arranges a car loan from a financial institution, the car is the sercurity for the loan and the institution becomes the secured party. Until the loan is repaid, the institution has a security interest in the car. The institution registers its interest in the PPR, establishing priority over other parties with a subsequent secured interest.
Clients have access to a multi-province system.
Large volume users can submit a batch file consisting of multiple registrations and searches. The PPR is both a technology solution and a reform of the governing legislation and business processes in the provincial Registry offices. Under the new notice-based system documents are no longer filed in the Registries. Secured parties electronically enter registration information. A verification statement is produced and made available to the registrant confirming the details of the security interest.