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Bailment

A situation where a person (the bailee) is voluntarily in possession of goods belonging to another (the bailor) and therefore it's wider than a lease, but is covered by 'PPS lease' for situations where the bailor is regularly engaged in bailment transactions, and where the bailee gives value for the bailment.

For more information refer to the Leases and Bailment under the Personal Property Securities Act 2009 fact sheet.