The word “caveat” is Latin for “let him beware”, and that is the purpose of a caveat in land dealings. It is to put third parties on notice that there is a claim to an interest in the property.
The Gold Coast property lawyers at QBM Lawyers have expertise in caveats and when they should be used. They will advise of the risks of the use of caveats – which can result in a compensation claim if they are not lodged with reasonable cause – and the benefits of them which can ensure that your rights to a property are not lost.
Caveats are commonly lodged against the title to property if the owner has granted a charge in favour of the caveator – often under a supply or finance agreement – or has agreed to some other dealing by which a third party has an interest in the land. This can include long term sale contracts, where the buyer’s rights will not be protected by a Priority Notice, and options to purchase.
There are complications to the use of caveats which are essentially seen as a temporary measure to prevent land being dealt with contrary to the interest claimed by the caveat, and will usually only remain effective for three months after lodgement.
Examples of these complexities in Queensland include:
As a result of these complexities and risks, it is important to seek advice from a property lawyer with experience in litigation before attempting to lodge a caveat. Our Gold Coast property lawyers can provide that advice.
If you would like to discuss lodging a caveat or how to remove one, please contact Peter Muller on 07 5574 0111 or email@example.com.
At QBM Lawyers we focus on delivering effective results to clients and have the management, support, and facilities to do so. We understand our clients’ aims, acknowledge their challenges and opportunities and are able to listen and respond to their commercial needs.