A caveat is a dealing registered on a property's title that prevents the property owner from transferring or granting a mortgage over the title. The statutory scheme regulating caveats is the Transfer of Land Act 1893 (WA).
Only a person who has a legal or equitable interest in the land can lodge a caveat.
It is fundamentally important that in any caveat dispute, the party who lodged the caveat has a "caveatable interest" in the property, allowing them to lodge the caveat. There are costly consequences for a party who lodges a caveat without having a caveatable interest. For example, if the sale or transfer of the property is prevented because of the caveat and the registered proprietor incurs a penalty or other loss and damage as a result of the delay, the caveator may be ordered to pay compensation to the registered proprietor.
If a party has lodged a caveat and that party receives from Landgate a notice to remove the caveat, the caveat will automatically lapse within 21 days unless that party obtains from the Supreme Court an order extending the operation of the caveat. Time is of the essence.
Vogt Graham Lawyers can provide sound legal advice on whether you have a caveatable interest and take the necessary steps to lodge or remove a caveat.
Contact Will Vogt, experienced property lawyer, and arrange an appointment.
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