This term describes the process by which a security interest becomes enforceable against third parties and the grantor (or the insolvent grantor's representative). Perfection can occur in a number of ways. The most important way this happens is by registration in the Personal Property Securities Register (PPSR). This is a national online register for the registration of all security interests in personal property which can be searched at any time. An alternative method of perfection is taking possession or control of the collateral.