Lodging a Caveat when you do not have a sufficient interest in land can leave you liable for damages. Those damages could be substantial if your Caveat thwarts a sale of the property or a finance transaction.
Consequently, before lodging a Caveat, your legal advisers need to carefully consider whether or not you do indeed have sufficient grounds to lodge the Caveat. Finally, keep in mind that this article contains general information which might not apply in your particular situation. The principles referred to above are the general rule, but like many aspects of the law, there can be exceptions.
For example, in some situations a person who lodged a Caveat might have the right to forcibly sell a property. There are also situations where a Caveat may not stop a person selling a property — for example a Caveat lodged to secure money might not stop a mortgagee selling a property.
Lodging a Caveat also brings with it the risk of escalating the dispute and the possibility of court action. Consequently it is important to obtain experienced legal advice if you are considering lodging a Caveat, or if you are concerned about a Caveat being lodged over your property. For more information regarding Caveats or any legal disputes, contact John Warlow on or jpw warlowscott. Need expert legal assistance? Contact the Brisbane legal firm that genuinely looks out for your best interests.
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Conveyancing Our experienced property lawyers are here to ensure your property purchase or sale is handled with utmost professionalism. Caveats Demystified. When Can I Lodge a Caveat? Should I Be Worried by a Caveat? Share this post:. Share on facebook Facebook. A property caveat is a legal notice that informs a legal claim of interest for a property, and, during a property transaction, there are few legal actions more disruptive than a property caveat being lodged.
It can significantly delay the purchase and sale of a property, acting as a formal notice to the public that there is an interest in the land or property in question. Get great legal advice from a qualified legal professional. Ask a property lawyer from Conveyancing. The main requirement for filling out a property caveat is to ensure that grounds of the claim are established.
The grounds for a claim are divided into three categories, including the statement of claim, estate or interest, and prohibition. All three of these categories must be addressed. Other requirements for a caveat application are details such as the names of the individuals involved in lodging it and the current registered owners of the property. A property caveat can be used as a means of delaying a property transaction.
Lodging one allows time for both parties to apply in court for their interest in the land. In some cases, a caveat is simply lodged to inform a third party about an interest being claimed. Property caveats are commonly used during the breakdown of a relationship.
A partner may want to claim an interest in a property because they've spent years financially contributing to it. But if the contributing partner's name isn't on the property title, they stand to gain nothing financially out of the property's sale. One partner may want to claim their interest in a property because it's only registered under the name of the other partner.
She has a wide range of experience in litigation matters including contractual and commercial disputes, compulsory land acquisition, debt recovery and strata and property management issues. Have a query? Contact us. Most Recent What are weighted voting rights?
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