Lenders who take security over motor vehicles, trailers, agricultural machines or agricultural implements can have their interest registered under the Chattel Securities Act 1987 if the security interest is located in Victoria. Registration alerts the public that the mortgagee has an interest in the security, and that if the goods are sold without the consent of the mortgagee, the purchaser may not actually receive legal ownership of the property.

In practice, this means that a lender can use farm equipment or motor vehicles as security for repayment of loans, and have the arrangement registered with the Roads Corporation. On default of payment, the lender will be able to sell the equipment or vehicles to satisfy the amount owing on the loan. The conditions under which a lender can do this will be contained in the mortgage document.

It is important that once a mortgage over property registered under the Act is discharged, that the mortgage is de-registered with the Roads Corporation. If the mortgage is not de-registered, the register will continue to show that a mortgage is held over the property.