Attachment refers to a security interest coming into existence. Attachment is broadly similar to an equitable interest (say an equitable mortgage) arising over personal property. An equitable mortgage will typically arise if the mortgagor has rights to mortgage, there is intention to create the mortgage and value (consideration) to support it.

For a PPSA security interest to attach, two conditions must be satisfied:

1. First, the grantor must have or be granted rights in the collateral, or the power to transfer rights in the collateral.
2. Second, either
   1. (A) the secured party must give value for receiving the security interest, which will usually be by extending credit or making an advance of money to the grantor or the debtor, or
   2. (B) the grantor must do an act by which the security interest arises.

Each condition to attachment is discussed in the following section.