In Canada, priority between competing claims under PPSA is determined by:

• A. Priority rules under PPSA are the same in every province.
• B. Filing, perfection, and priority rules vary by province.
• C. No filing is required under PPSA.
• D. PPSA applies only to real property.

Answer: (B)

Priority of security interests under PPSA depends on the provincial regime that applies. In Canada, each province enacts its own Personal Property Security Act with its own filing, perfection, and priority rules. Because these rules are not identical across provinces, the way claims are ranked can differ depending on where the security interest is perfected and how perfection is achieved. In practice, perfection (often by filing) generally determines priority over unperfected interests, and the timing of perfection matters when multiple interests exist, but the exact rules and potential provincial exceptions vary from one province to another. That’s why the statement that filing, perfection, and priority rules vary by province is the accurate one.

The other statements don’t fit because PPSA rules are not uniform nationwide, filing is typically required to perfect (not optional), and the PPSA covers security interests in personal property rather than real property.