WHAT IS A CAVEAT?
A caveat is designed to protect interest in a land, by freezing the property and preventing dealing with that property without the knowledge of the person who issued the caveat.
A caveat can be registered with Land Victoria. Circumstances that a caveat can arise include when someone is in debt, holds a mortgage or easement that relates to property.
A caveat can be lodged when there is a proper basis, including documentary evidence, with consequences when an unsubstantial caveat is issued.
PROBLEMS WITH CAVEATS
There are some common scenarios one may find themselves in regarding caveats:
1.     A failed caveat, which leads to the completion of a transaction (such as a sale of the land that differs from the interest of the party).
2.     A lapsing caveat due to the failure to observe the 30-day limit after land transfer is registered.
3.     A successful application to remove a caveat. In this case, the caveator must establish a prima facie case of having interest in the land and that the balance of convenience favors the maintenance of the caveat until the matter reaches trial.
If there is no interest in the relevant land, a caveat would not be relevant.
For more information of caveats, call us on:Â +61 3 94163463 or email us: email@osullivanandruffilli.com.au
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