Greater – but Not Perfect – Clarity Coming, at End of Year, to Question of Personal Property Security Jurisdiction
By Nora Rock, corporate writer at LAWPRO.
A personal property security interest can’t be perfected if it’s registered in the wrong jurisdiction. Pinning down the appropriate jurisdiction for registration of a non-possessory interest in an intangible (like intellectual property), a good used in more than one jurisdiction (like a transport truck), or an instrument (like a lease) has proven to be surprisingly hard, due to ambiguous language in PPS statutes across the country.
The version currently in force of s. 7(1) of the Ontario Personal Property Security Act provides that the validity and perfection of a registration of an interest . . . [more]


