12 Jul Register ownership of assets not in your possession or lose them!
Landlords and Business Owners – did you know that radical new laws were introduced this year that put your assets at risk?
Since the introduction of the Personal Property Security Register if you do not register your ownership of an asset and it is not in your physical possession, then you will lose that asset if the person with possession becomes insolvent. (not including real estate)
Landlords please note that ownership will not ensure that you can reclaim your goods if the lessee becomes insolvent or bankrupt. Let me make this clear! Ownership is not sufficient! – you must register your ownership.
The most important thing you must do this year is register ownership.