LAND TITLE ACT 1994 - SECT 124
Effect of lodging caveat
LAND TITLE ACT 1994 - SECT 124
Effect of lodging caveat
124 Effect of lodging caveat
(1) A caveat prevents registration of an instrument affecting the lot over
which the caveat is lodged from the date and time endorsed by the registrar on
the caveat as the caveat’s date and time of lodgement.
(1A) Subsection (1)
has effect for a caveat until the caveat lapses or is cancelled, rejected,
removed or withdrawn.
(2) However, lodgement of a caveat does not prevent
registration of the following—
(a) an instrument specified in the caveat as
an instrument to which the caveat does not apply;
(b) an instrument if the
caveator consents to its registration;
(c) an instrument executed by a
mortgagee whose interest was registered before lodgement of the caveat if—
(i) the mortgagee has power under the mortgage to execute the instrument; and
(ii) the caveator claims an interest in the lot as security for the payment of
money or money’s worth;
(d) an instrument of transfer of mortgage executed
by a mortgagee whose interest was registered before lodgement of the caveat;
(e) if the caveator is a person who has the benefit of an order mentioned in
section 122(1) (e) —an instrument for a dealing other than a dealing
restrained by the order;
Example—
A caveat lodged by a person who has the
benefit of an order mentioned in section 122(1) (e) restrains the registered
owner of a lot from transferring or mortgaging the lot. The lodgement of the
caveat does not prevent registration of an instrument of lease for the lot.
(f) another interest that, if registered, will not affect the interest claimed
by the caveator.
(3) The exceptions mentioned in subsection (2) (c) and (d)
do not apply to a caveat lodged by the registrar.
(4) The exception in
subsection (2) (d) does not apply to a caveat lodged by the registered owner.
(5) Lodgement of a caveat does not create in the caveator a registrable
interest in the lot affected by the caveat.
