A caveat is a legal instrument that Prohibits the registration of certain dealings and plans affecting a folio of the Register pending determination by a court, including a transfer which is what is needed in order sell a property. The piece of the legislation which governs this is Section 74F Real Property Act 1900 (NSW).
What does it mean when a Caveat is recorded on a folio of the Register?
This means that another person is claiming an estate or interest in the land. The Caveat must be removed, or the caveator’s written consent to registration of your dealing(s) obtained, before your dealing(s) can be registered. A Caveat can be removed from a folio of the Register by one of the following means:
1) Withdrawal of Caveat (form 08WX) that must be signed by the caveator or their solicitor. The completed Withdrawal of Caveat form must be lodged at LPMA, together with the prescribed lodgment fee or
2) Lapsing because the interest claimed under the Caveat is satisfied by the registration of another dealing or
Lapsing action taken following the lodgment at LPMA of an Application for Preparation of Lapsing Notice (form 08LX), by or on behalf of the registered proprietor of the land or a registered interest, together with the prescribed lodgment fee or
Order of Court which must be lodged (by hand) annexed to a Request (form 11R) at LPMA together with the prescribed lodgment fee.
If you want to lodge a caveat you need to file the following form at the department of Lands:
Caveat Instructions for Completion
Naturally if you have any questions about what a caveat is and how it works, you can post your question to a solicitor using the form to the right and they should contact you as soon as possible.
