A Caveat is a type of statutory injunction which prevents the registration of particular dealings on the title of the property. A Caveat is essentially a formal notice to the public notifying them of the Caveator’s interest in the property. A Caveat will protect your legal position on the land or property in question. There are numerous reasons you may register a Caveat to protect your interest in the property such as a registered mortgage, transfer, contractual rights (i.e. upon purchasing a property) and more.
However, before registering a Caveat, there are a series of steps you must follow to ensure your caveatable interest in the property is valid. Otherwise, you may be liable to pay compensation to the wronged parties due to an incorrectly lodged Caveat. This includes payment of the property owner’s legal fees on an indemnity basis. Therefore, it is important that you seek legal advice to determine if your interest and claims in a property are justified to register a Caveat prior to registering same.
This article was published on 20/09/22 and the information is valid only to the date of publishing. This article should be considered merely general and non-specific on the subject matter and is not and should not be considered or relied on as legal, advice. Meehans Solicitors is not responsible in the event this information is relied upon by the reader in the absence of specific legal advice.
