Caveats lapsing after 3 months???

[salt]

I've had a caveat on my property for a couple of years now, and a second one placed in June this year. Through my research online I've read a few times that if a caveat has been there for more than three months, the caveat MAY have lapsed. Is this true? Is it it possible for a caveat to lapse if not renewed?
I certainly hope so!

Thanks

 

[salt]

I also keep reading this: (quoted from another thread, but I've read elsewhere on the net)
"Caveatable" interest in the property is generally interest that is recorded or can be recorded on the title. Somebody simply owing you money does not entitle you to the caveat. Caveator renders themselves liable for any loss or damage illegitimate caveat may cause.

First caveat was placed by a solicitor for costs, the second by a credit union for a personal loan.

 

[the helix]

The legislation in each state/territory will vary, but I can tell you that in Queensland, Caveats are valid for 3 months, and will lapse, unless the provisions of s126(1) of the Land Title Act 1994 are met.

What you'll need to do is check the relevant legislation for the state/territory in which the land exists.. (or hire a solicitor to do it for you)

As for a caveatable interest, any solicitor or money lending company who know what they are doing would be charging your land with the repayments of any debts/costs that you owe them.. it's probably buried in the fine print, but if there is a charging clause in your contract, a caveatable interest would exist.