Pragma Lawyers Special Counsel and senior specialist property lawyer, Lauren Evans, recently spoke with 6PR’s Oliver Peterson about how and when to lodge a caveat in Western Australia.
What is a caveat?
A caveat is a statutory injunction that can be registered over land alerting the world at large of your interest in that land and preventing any transactions from taking place, unless permitted by the caveat.
When should you lodge one?
Whenever you have an interest in land that needs to be secured. Caveats are often lodged to protect leases for a term 3 years or more, where a lender wants to secure repayment of a loan pursuant to a charge in a loan agreement, to protect a purchaser’s interest under a contract for sale, or when someone has an equitable interest in the land.
If you are considering loaning someone (including family and friends) a substantial sum of money, have recently exchanged contracts or otherwise have an interest in land, it is important to know your rights so that you can protect your interests.
Listen:
(Tuesday, 11 April 2023 | Source: 6PR Perth)
If you need expert property law advice, call us on (08) 6188 3340 or email lauren@nullpragma.law. For more legal tips, set your dial to 6PR every Tuesday fortnight at 4:30pm.
