AllPAAP explained: how one registration can cover your whole business
Business asset & equipment finance
- AllPAAP
- all present & after-acquired
- One deed
- covers everything
- Facility
- not a single asset
- $2 search
- confirms a release
AllPAAP stands for all present and after-acquired property — a PPSR registration that covers everything your business currently owns and everything it acquires in future, under a single interest.
It's most often granted to a business's main financier under a general security deed, and it does much the same job as the fixed-and-floating charge businesses used before the PPSA (ppsr.gov.au — AllPAAP).
An AllPAAP secures a facility, not a single asset — so paying off one thing doesn't clear it.
What an AllPAAP actually covers
The point of an AllPAAP is breadth: rather than naming each asset, it captures the whole pool of a business's personal property.
- Present property — the equipment, fleet, stock and other assets the business owns today.
- After-acquired property — assets the business buys later automatically fall under the same registration.
- It's registered against the business as grantor (by ACN/ABN), so it shows on a grantor search, not necessarily a serial-number search.
Why paying off one asset doesn't clear it
An AllPAAP secures a facility, not an individual item. So paying off one piece of equipment — or even one loan within the facility — doesn't remove the registration. It stays until the financier releases the specific asset or the whole facility is discharged. Before you treat an asset as clear, confirm whether what's registered against it is a specific interest or an AllPAAP over the business.
How to free a specific asset from an AllPAAP
Confirm the AllPAAP with a grantor search
Run a $2 PPSR search on the business's ACN/ABN to confirm the AllPAAP and identify the financier (ppsr.gov.au).
Ask the financier for a release of that asset
Where the facility allows it, ask the financier to release the specific asset from the AllPAAP — or to discharge the registration entirely if the facility is settled.
If they don't act, use the amendment process
If a registration shouldn't remain and the financier won't act, the amendment-demand process applies (ppsr.gov.au — how to dispute a registration).
Confirm the release
Run a fresh search to confirm the asset is no longer captured. Keep the certificate as evidence.
Register for launch updates
How Verexia is designed to assist
Establishing whether an AllPAAP sits over your business, and dealing with the financier to release the asset or discharge the facility, is exactly the sort of matter for the coming service — so the asset you need clear actually is.
- Confirming whether it's a specific interest or an AllPAAP over your whole business.
- Dealing with the financier to get the release or discharge lodged.
- Confirming the result with a fresh PPSR search.
The first step will always be working out where you stand. Final outcomes depend on the secured party and the facts of the registration, and no service can promise otherwise. What Verexia will commit to is doing the work and being straight about what's achievable.
Verexia is preparing a service designed to assist with vehicle ownership, finance and PPSR matters. Services are not currently available. Register your interest and we will contact you when the relevant service launches.
Sources: Personal Property Securities Register (ppsr.gov.au) — all present and after-acquired property and how to dispute a registration. The PPSR is operated by the Australian Financial Security Authority (AFSA).