Chapter 15: Financing Statements + Liens

Financing statements are powerful public notices that establish a secured interest in property—whether tangible or intangible—and form the backbone of lawful control over one’s estate or assets. In commerce, whoever gives notice first gains priority, making these filings critical for asserting rights, blocking unauthorized claims, and securing credit or collateral relationships. In the United States, this process is governed by UCC Article 9, which allows individuals and trusts to file a UCC-1 Financing Statement declaring their security interest. In Canada, the Personal Property Security Act (PPSA) serves a similar function, though each province has its own PPSR registry. Australia, by contrast, operates under a unified national Personal Property Securities Register (PPSR) managed federally. While the statutory mechanisms vary, the principle remains the same across jurisdictions: giving lawful notice of your equitable interest preserves your claim and establishes you as the first-in-line creditor.