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Register a Securities Interest
REVs
A REVS (Register of Encumbered Vehicles) Registration of Interest allows financiers to advise REVS online that a vehicle has been taken as a security for a loan.
By registering an interest on a vehicle:
- A financier can recover goods in which it has registered an interest, no matter who has claimed to have brought the item.
- It makes it more difficult for lenders to sell a vehicle while there is an existing encumbrance on it.
- Buyers of vehicles can ensure that the encumbrance is cleared before they purchase the vehicle.
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