A Caveat is a dealing which is lodged with the Land and Property Information (LPI).
It prevents any other dealings being registered on the title to the property by the person or company without the consent of the Caveator and which is contrary to the interests in the property of the Caveator.
Lodging a Caveat over property can be a good tool for preventing the party which is registered on the title of that property from dealing with the property in a way adverse to your own interests.
Caveats are registered on title to the property so that any potential purchaser who checks the certificate of title to that property is informed that another party has an interest in that property.
The LPI will not give effect to any dealing with that property without first notifying the caveat holder.
In order to lodge a caveat over a property, you must have a 'caveatable interest'.
A caveatable interests requires a recognised interest in land, and must be lodged in the correct form with the Registrar of the relevant LPI office in the given jurisdiction (of the lodging party).
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