There are many searches and sources of information utilized to comprise a current investigative report for the property manager, creditor, franchisor, or OEM. The Personal Property Lien Registry is one of those sources and can provide a wide range of pertinent information. It is important to remember that the information gathered from this source is not always considered negative, as liens can also be registered in the normal course of business.
Types of Liens which are registered in the normal course of business:
A security interest is typically registered by lenders and sellers who wish to register their interest in the personal property of a debtor to secure payment of the debt and/or to establish a priority position in the collateral. This type of lien includes leases (equipment/vehicles), transfers of accounts, chattel paper and consignments. You will note that financial institutions (banks, lenders credit unions) utilize the system to secure borrowing facilities (term loans and credit lines).
Sale of Goods and Factor Act Registrations
This registration is for a buyer’s interest in goods left in the possession of the seller.
Types of Liens which could be considered negative:
Writ of Enforcement
This type of lien is negative because a Writ of Enforcement is the result of a legal action and is to assist in enforcing a debt.
Writ of Seizure and Sale (Federal Writ)
Federal judgments registered with the Personal Property Registry to enforce creditor’s interest.
Civil Enforcement Registrations
These registrations include Attachment Orders (granted by the court prior to judgment), Reports of Seizure (to authorize taking possession of personal property), Sale of Seized Property (authorizing the sale of seized property) or Sales Proceeds Distribution.
This type of lien can also be negative, as a garageman registers a lien against an owner’s vehicle for repairs, parts or storage for which he has not been paid.
Crown Charge/Tax Liens
These liens or charges are with regards to interests of the crown created by any law and could include tax liens for unpaid HST, GST, PST, RST, ICT, EST, EHT.
An order or interim order of a court in Alberta for the collection of child support, spousal or partner support.
A notice of a financial statement or final account of the receiver’s administration.
An interest in real property of a corporation that secures payment or performance of an obligation under the Law of Property Act.
Creditors’ Relief Act Notice of Judgment
Creditor’s Relief Act Notice of Claim
Matrimonial Property Act Notice of Order
An interest of a spouse given exclusive possession by a court of home or household goods.
At Quality Credit Reporting, we take an investigative approach to every file and find the most valuable, credible and up-to-date information possible to help our clients. For more information on our reports and how they can assist your company, contact us today!
Tags: Property Management