A property caveat is a legal document which is lodged to provide notice of a legal claim to a property.
During a property transaction, there are few other legal actions which are more troublesome than a property caveat being applied for. The person who has filed the caveat is known as the caveator. It can significantly delay the purchase and sale of a property.
In order to establish that you have a caveatable interest over the property, a caveator needs to show that they have sufficient interest over the
property. This may be in the form of:
- Equitable mortgage; and
- They are buyer of the property where settlement is not effected for sometime.
Basic form requirements include the following:
- The name and address of the person who lodged the caveat;
- The name and address of the person who owns the property or has an interest in it;
- The interest claimed by the person who lodged the caveat;
- A verified statutory declaration.
Please contact us Roman Lawyers if you would like to place a caveat on a property or would like to have the caveat removed from a property.