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What is a grantor?
When you’re registering a security interest in property on the PPSR, you may need to include the details of the grantor.
This is the person or organisation who gave (or 'granted') you the security interest in the property you're registering over.
Usually this is the purchaser, owner or lessee of the property.
When you create a registration, the PPSR will ask you for grantor details if they are needed. You cannot enter grantor details in a consumer registration over serial numbered property (such as a car, boat or plane).
There can be more than one grantor for the same security interest. If there is, you’ll need to give details of all the grantors.
Individual or organisation?
The first step is to establish whether the grantor is to be registered by reference to their individual details or organisation identifier. Whilst this may appear obvious, it's important to confirm this before going ahead. Entering the wrong grantor details can have serious consequences including the risk of your registration being ineffective.
Grantors that should be registered using their organisation identifier include:
- companies
- bodies corporate
- a partner in a partnership with an ABN
- bodies politic and
- a trustee of a trust with an ABN.
Individuals that should be registered using their individual name and date of birth include:
- a person
- sole traders with an ABN
- partners in a partnership without an ABN and
- trustees of a trust without an ABN.
Information you need to enter about the grantor
Organisation grantor
For organisation grantors, you will need to enter their details using the appropriate organisation identifier.
Most commonly, the organisation identifier you will use will be the organisation's ACN. However, there is an order to follow when choosing the correct organisation identifier; it's important you follow the order as not doing so could make your registration ineffective.
When you create a registration, the PPSR will ask questions which will help you select the correct organisation identifier to use for the grantor you are describing. The identifier the organisation has that is highest in the order is the one you need to use to identify the grantor. The order is as follows:
- ARSN (Australian Registered Scheme Number) or ARFN (Australian Registered Fund Number)
- ACN (Australian Company Number)
- ARBN (Australian Registered Body Number
- ABN (Australian Business Number)
- Organisation name
Depending on the organisation identifier you used, the PPSR will give you the option to select Verify it. The screen will show the name of the organisation that owns the identifier. Check that the name is correct before you continue with the registration.
Individual grantor
For individual grantors, you'll need to enter the following identifying details:
- family name
- given names and
- date of birth.
Most commonly, these details will come from their current Australian driver's licence. However, the form of identification you get these details from is important - using details from the wrong identity document could make your registration ineffective.
There is an order to follow when choosing the type of document you get identity details from. The document has that is highest in the order is the one you need to use to identify the grantor. The order is as follows:
- Information you have about the individual because of the operation of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006
- Current Australian driver’s licence
- Australian proof of age card
- Australian passport
- Australian visa
- Passport from the country they usually live in
- Birth certificate.
To be cautious, you might want to ask for more than one type of ID so that you can make sure they are consistent – for example, that both IDs show the same surname. Also, make sure you check the date the ID was issued. This is because they may have changed their name recently.
Important note: Do not enter any personal identifiers, such as tax file numbers (TFNs), individual healthcare identifier (IHI), Medicare numbers, birth certificate or passport details. The PPSR is a public register and placing these identifiers in registrations may expose you to the risk of identity theft or even legal action. Registrations containing these identifiers will be restricted and/or removed.
Informing grantors
If you have a registration which includes grantors, you may have an obligation to let them know when you create, change or end it.
You can do this by sending them a copy of the verification statement.
For more information see Informing grantors.