A caveat is an ex-parte (single party) dealing registered on a title or group of titles that shows the valid interest of that party (the caveator) in the land. The word “caveat” means warning. The practical effect of a caveat is to indefinitely prevent subsequent dealings on the title either without the permission of the caveator or at all.
Common examples of caveats are:
When a caveat is registered, the proprietor(s) receive a letter from Land Use Victoria advising of the caveat’s details. Sellers of land commonly receive these when a purchaser’s caveat is registered.
If a dealing is lodged on a title that has a caveat registered on it, the caveator receives a letter from Land Use Victoria advising of the nature of the lodged dealing and the Registrar’s intention to register the dealing after 30 days unless prevented by an order of a court. If a caveator wants to prevent the lodged dealing from being registered, they will have to go to a court within 30 days to obtain the order.
On the other hand, a caveat can be lodged where the caveator will allow a specified dealing to be registered by giving written consent to it beforehand. If granted, the caveator’s consent accompanies the lodgement of the dealing, and Land Use Victoria will register the dealing immediately.
For more information about caveats, please contact Glenferrie Conveyancing in Northcote on 03 9815 2351.