Disclaimer: This publication contains comments of a general nature only, and is provided as an information service.
It is not intended to be relied upon as, nor is it a substitute for specific professional advice.
A Caveat is a warning or proviso that can be lodged against a person’s property to protect the lodger’s right or interests in the property and receive notification if the registered proprietor sells, mortgages or deals with the property.
Caveat is a protection regime for unregistered interests in a property and people with qualified interests should all consider lodging a caveat. However, there are grievous consequences for lodging false caveat and therefore, you should always seek legal advice before taking any action.
Caveats are commonly used to protect:
- A purchaser’s interest under a contract of sale
- The interest of a beneficiary under a trust
- A vendor’s lien for unpaid purchase monies
- A mortgagee’s interest under an unregistered mortgage
- A purchaser’s interest under an option to purchase land
For assets other than real estates, there is a caveat equivalent available at the Personal Property Securities Register (PPSR). You can register your security interests in the assets with the PPSR online. The registration effectively affords you the same protection with an interest in assets as caveats do to interest inland.
If you are not sure if you can lodge a caveat or how to do it, contact us now. Our team of experienced property lawyers can provide you with top-quality services. Get in touch now!