{"id":6156,"date":"2015-10-28T01:00:58","date_gmt":"2015-10-27T14:00:58","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6156"},"modified":"2015-10-28T01:00:58","modified_gmt":"2015-10-27T14:00:58","slug":"what-is-a-caveat","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-is-a-caveat\/","title":{"rendered":"What is a caveat? – Garth Brown"},"content":{"rendered":"

 
\nCan you lodge a caveat over the property of someone who owes you money? When can a caveat be laid and what can you do if someone slaps one on your property? In today’s show we talk to\u00a0Garth Brown<\/strong> from Brown & Brown Conveyances.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin:<\/b>\u00a0 An interesting question was posed about caveats that I wanted to cover as someone was just asking what are the circumstances around someone putting a caveat on your property or, in fact, you putting a caveat on someone else\u2019s property? What does it really mean?
\nI have to say up front, our program does go right around Australia, and state to state, it does vary, so we\u2019d always suggest that you check with your state expert. At the end of this podcast, the text version will give you the state links for each of the state authorities.
\nOur go-to man is Garth Brown from Brown & Brown Conveyances, and he joins me.
\nHi, Garth.
\nGarth:<\/b>\u00a0 Hi, Kevin.
\nKevin:<\/b>\u00a0 Garth, what is a caveat?
\nGarth:<\/b>\u00a0 A caveat is like an injunction on title. It actually freezes the title so that no one can deal with that title \u2013 not even the vendor or purchaser \u2013 without the consent from the person who placed the caveat on title. This is really an external third party controlling the title.
\nKevin:<\/b>\u00a0 When can you lodge a caveat?
\nGarth:<\/b>\u00a0 You can lodge a caveat if you have what\u2019s known as a caveatable interest or an equitable interest or a legal interest in property. I know those are convoluted terms there. It\u2019s when you have exchanged contracts, the purchaser can place a caveat on the title.
\nKevin:<\/b>\u00a0 You have to have an interest in the property. Is that the barometer?
\nGarth:<\/b>\u00a0 Yes, an interest in the property, whether a legal or equitable. You have an equitable interest once you sign a contract in exchange as a purchaser, and the mortgagee, anyone who\u2019s lending money to help someone to buy a property.
\nInterestingly, there are agreements, though, that can occur between vendors and purchasers when it comes to agreements for supply of goods or services. The vendor can agree with someone who\u2019s supplying some sort of service that the security of their charges \u2013 and it has to be in the agreement \u2013 is secured, and the security is the actual property itself. It\u2019s whereby the vendor agrees that any liabilities are secured in their agreement via a caveat on title. That is allowable.
\nKevin:<\/b>\u00a0 Why would you want to put a caveat on a property? What are the circumstances? Is it to freeze the interest?
\nGarth:<\/b>\u00a0 Yes, just to freeze it.
\nKevin:<\/b>\u00a0 That freezes your interest in it, Garth, is that correct?
\nGarth:<\/b>\u00a0 That\u2019s right. Some people have tried it where someone has done some tiling work or work on someone\u2019s home. The vendor has refused to pay their account or some sort of work on their home, so what they\u2019ve done is just gone and lodged a caveat on title.
\nKevin:<\/b>\u00a0 Can you do that?
\nGarth:<\/b>\u00a0 No. You can do it, but legally it won\u2019t stand up. It\u2019s just really to bluff or shock the vendor to pay up.
\nKevin:<\/b>\u00a0 In the event that someone has actually put a caveat over my property, what do I do?
\nGarth:<\/b>\u00a0 What would happen then is that the lands office would office a notice to you, as the owner, that a caveat has been put on your title so that you\u2019re aware of what\u2019s going on with your title. Then what you can do is apply for a lapsing notice. That\u2019s where you fill in the forms and send it back to the lands office, and then that puts it back on to the person who actually put the caveat on title, who has 21 days to go to the Supreme Court to extend the length of time of that caveat.
\nKevin:<\/b>\u00a0 You really have to take action fairly quickly. You\u2019re saying within 21 days of being notified.
\nGarth:<\/b>\u00a0 Virtually, I would say within the first week. Get on to it straightaway so that you can get it off title.
\nKevin:<\/b>\u00a0 If I were going to auction, as an example, and someone put a caveat on my property, would that actually stop the auction from happening?
\nGarth:<\/b>\u00a0 It could, actually. Potentially, it could. In that situation, you\u2019d put a special condition into the contract that the successful purchaser would have the right to rescind if the caveat was delaying settlement.
\nKevin:<\/b>\u00a0 Any settlement would be subject to that caveat being lifted anyway, I\u2019d imagine.
\nGarth:<\/b>\u00a0 Definitely. You\u2019d want to have that in writing.
\nKevin:<\/b>\u00a0 You still go ahead with the auction, but obviously, it\u2019s going to cause a few bumps in the road, that\u2019s for sure.
\nGarth:<\/b>\u00a0 Definitely, yes. You need to be aware of it, have special conditions to protect you, so you can get out of the contract if you can\u2019t complete because of the caveat. There\u2019s another approach where you can go straight to the court directly and request for the caveat to be deleted, and avoid the lapsing 21-day lapsing notice. It takes maybe a bit of time and money, but it probably would be the quickest way in order to get a settlement across the line.
\nKevin:<\/b>\u00a0 Okay. As I said at the opening, there\u2019s different legislation in different states. I suggest you go to the text version of this interview and check out the governing bodies behind caveats in Australia in these states and territories.
\nGarth Brown from Brown & Brown Conveyances. Thanks for your time, Garth.
\nGarth:<\/b>\u00a0 Thanks, Kevin. Appreciate it.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Can you lodge a caveat over the property of someone who owes you money? When can a caveat be laid and what can you do if someone slaps one on your property? In today’s show we talk to\u00a0Garth Brown from Brown & Brown Conveyances….<\/p>\n","protected":false},"author":176692471,"featured_media":6157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,25],"tags":[101],"class_list":["post-6156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"\nWhat is a caveat? - Garth Brown - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/what-is-a-caveat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a caveat? - Garth Brown - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  Can you lodge a caveat over the property of someone who owes you money? 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