If you have a property or piece of land you’re interested in and do not want the owner to sell it, one of the ways you can ensure that you’re notified is through a caveat. By lodging a caveat on a land’s title, you can prevent the land dealings and planning associated with it. However, only an individual with proper, eligible interest can lodge a caveat on land. Lodging a caveat without justifiable or probable cause can lead to a penalty and make you liable for monetary compensation.
That’s why it is always advisable to consult commercial property lawyers when it comes to property negotiations. This article is a rundown of the steps involved in lodging a caveat so that you can avoid any mistakes in the process.
The word caveat is derived from the Latin word meaning “warning.” Hence, a caveat, in legal terms, refers to any formal warnings issued to the title of a land. This is a way of indicating to anyone or any third party looking for the title of the land that the person who lodged the caveat, called the caveator, already has a vested interest in the land. This secures the land or property for the caveator by preventing any further dealing on the land till the court has formally removed the caveat lodged.
Removal of the caveat is only possible when:
It is important to be mindful of the steps in filing a caveat. This is because an unfounded caveat or one without adequate proof of interest is liable to penalty and compensation.
While the exact details of lodging a caveat vary depending on the state or territory where you reside in Australia, some basic steps are in place. However, it is highly advisable to contact property or fence dispute lawyers before going forward with your lodging.
This is the process of finding the exact date and time the property title was obtained. A property title is an official record belonging to each respective Australian state or territory that documents all the properties and their owners. A title search is necessary to fill up the caveat form.
It is necessary to get the assistance of a solicitor or a conveyancer to help you prepare for an electronic caveat lodging. Download the caveat form and save a hard copy. You can either lodge the caveat online or through post.
Provide identity verification along with an accurate description of the property. Providing sketches of the caveated section of the property can help paint a clearer picture. It would be best to mention your vested interest in the land here.
This is one of the most important steps involved in lodging a caveat. For a successful caveat, the vested interest of the caveator on the land title must be proven. This can be done by providing documents or deeds which support your claims. You can also use a statutory declaration that supports your caveat. This must include the land or estate title and the reason for interest. You must also mention the nature of the land and your interest in it.
Failure to provide adequate proof renders your caveat null and void. In some cases, you may have to compensate for financial losses sustained by others due to an insufficient or ungrounded caveat.
This is the final step on your end to lodge the caveats. Pay the designated fees either in cash or online transaction. If you’re lodging by post, it is wise to include the fees within the post.
Lodging a caveat is a complicated process and often includes intricate and classified information that may be difficult to access alone. That’s why contacting a property lawyer and filing a caveat through their guidance is the most advisable. If you associate with the best team of property lawyers who are experienced and well-equipped to guide you through your property negotiations and disputes and lead you to favorable outcomes. Contact the best property settlement lawyers in Perth today.