Apologies if this has been asked or answered elsewhere I've tried to search but can't find anything.

The Personal Property Securities Act came in this year and my accountant has advised it may be something I need to look into. I don't want to pay $600 hr by ringing my solicitor when I'm sure some of you learned folk can answer my questions for free.

I have ownership of 6 standardbred horses (1 x 100%, 5 x various percentages ranging 15-75%), 5 are in training and 1 is a broodmare. There is no finance on any of the horses and therefore no interested parties.

My question is do I need to register these horses on the PPSA register despite the fact I have not leased them to anyone and have retained ownership of the horse? If my trainer goes broke and the banks come in and seize everything on his property, are my horses going to be at risk of being seized and sold by the banks? I would understand if I was leasing the horses to him, I'd need to register, but this is not a leasing arrangement.

Having said that.....the trainer is a co-owner in a couple of the horses albeit only minority shares of between 10-25%.

I'm guessing when there is a multitude of owners you would need to register only your share in the horse?

And what about if I own a horse 100% and I give it to a trainer to train for me and the trainer goes broke.....should I have the horse registered in a situation where I own 100% of the horse?

What about if you have sent your horse to an agistment property and they go broke? Can the banks come in and claim all the horses in the paddocks regardless of who legally owns them?

Any info is appreciated. Thanks in advance.