Putting a caveat on a title

[NedKelly]

I am owed some money ( a five figure sum) and am having great difficulty collecting it, I haven't filed a lawsuit yet but am planning to, it's one of these situations where they don't have any money. I have found out on the grapevine that this person is selling their home and may skip the state.

Does anyone know if I can place a caveat on their property? My lawyer says no because I don't have an interest in the property. My 'non-legal' friends say all I need to do is go down to the Dept of Natural Resources with $37.50 and the original agreement showing the amount owing and they will register it then and there. Do you think that is a good idea?

 

[Propertunity]

Does anyone know if I can place a caveat on their property? My lawyer says no because I don't have an interest in the property. My 'non-legal' friends say all I need to do is go down to the Dept of Natural Resources with $37.50 and the original agreement showing the amount owing and they will register it then and there. Do you think that is a good idea?

Ned,
Your lawyer is half right. He is thinking about this:

When a purchaser signs a contract to purchase real estate, the purchaser acquires what is known as a "caveatable interest". This means that the purchaser is entitled to register a caveat to protect that interest.

Your situation is in bold below - but you must get a court order - so your friends are only half right too.

However, other people can also acquire a "caveatable interest", for example:

* Someone who has signed a contract to buy the same property. This often happens by mistake, where two estate agents sell the same property to different purchasers. The first to lodge a caveat will have priority as purchaser, while the other may only have a right to compensation for the inconvenience.
* A creditor who wants to prevent the vendor from disposing of the property. A creditor may have a written agreement with the vendor by which the creditor is permitted to lodge a caveat to secure a loan. Alternatively, the creditor may have a court order allowing for the lodging of a caveat.
* Other rights. There are numerous other rights that may give rise to a "caveatable interest".

Only a person who has a caveatable interest is entitled to lodge a caveat or to instruct their lawyer to lodge a caveat on their behalf.

It is best to have the caveat lodged by a lawyer so that advice can be obtained as to whether a caveatable interest actually exists, whether there are any contractual prohibitions on the lodging of a caveat, and whether further registrations to be made on the caveator's behalf may be affected (a carelessly lodged caveat could prevent a purchaser's own Transfer of Land from being registered or cause a lender to refuse to provide funds on settlement day).
http://www.lawyersconveyancing.com.au/caveat.asp

 

[NedKelly]

Thanks for that, very concise. I think I need to bite the bullet and get a court order.

 

[salt]

Okay, I'm at the receiving end of two caveats that I feel were unfairly placed. One was placed by a solicitor for fees owed and the other by my credit union with a court order. Anybody have any ideas on how to get them removed?

 

[buzzlightyear]

Okay, I'm at the receiving end of two caveats that I feel were unfairly placed. One was placed by a solicitor for fees owed and the other by my credit union with a court order. Anybody have any ideas on how to get them removed?

Pay the amounts owing?

 

[salt]

Pay the amounts owing?

wow, why didn't I think of that awesome solution? Perhaps you don't mind paying people who have royally shafted and double crossed you, but I'd prefer not to hand over money to scum who have ripped me off and lied to me.

 

[buzzlightyear]

wow, why didn't I think of that awesome solution? Perhaps you don't mind paying people who have royally shafted and double crossed you, but I'd prefer not to hand over money to scum who have ripped me off and lied to me.

Sometimes the simplest answers are the best. And sometimes, people ask questions without full explanation which will lead to answers that won't answer or give you correct information.

You had mentioned that a court of law had made a decision against you. Are you saying the court decision was wrong? Did or could you represent yourself? Is there an appeals process? Are the two incidents related?

You may not wish to go into detail on a public forum about the specifics but it does go the heart of anyone being able to give you advice with regards to the caveats lodged on your property.

Its the circumstances that have been decided upon that have led to the caveat being lodged, not the process of caveat lodgement.

 

[Terryw]

It seems that in Tasmania you may not need an equitable interest to lodge a caveat. In NSW this is not the case though.

Ned Kelly, where is the property located? Assuming not tasmania,

You should probably start proceedings by lodging a statement of claim, hopefully they won't defend it, so you get judgment and then you can lodge a writ on the property and then a caveat to prevent the sale. From there you can apply for the seizure of property or begin bankruptcy proceedings.

 

[NedKelly]

Ned Kelly, where is the property located? Assuming not tasmania,

The property was in QLD. This is 18 months ago now and things moved quickly. The guy declared bankruptcy and the house was 'given' to the bank as the debt was more than the valuation and the bankruptcy trustee must have figured it was going to cost him money he didn't have to sell it. The bank subsequently sold it for less than the valuation so took a big haircut. I am left dealing with the trustee in bankruptcy who has basically said there is nothing left (after his fees of course!)

 

[Terryw]

The property was in QLD. This is 18 months ago now and things moved quickly. The guy declared bankruptcy and the house was 'given' to the bank as the debt was more than the valuation and the bankruptcy trustee must have figured it was going to cost him money he didn't have to sell it. The bank subsequently sold it for less than the valuation so took a big haircut. I am left dealing with the trustee in bankruptcy who has basically said there is nothing left (after his fees of course!)

Sorry to hear that Ned, ( i didn't realise it was an old thread either).

 

[Rolf Latham]

Hi Ned

Ouch............I think by the time the owner has lost direct control a caveat after the fact mght not be worth much.

We do a bit of short term lending, usually unsecured, but as soon as it looks like it may go sideways, we lodge a caveat before it slides.

ta
rolf

 

[Warner brother]

putting a caveat on atitle

I have done some work to a builder. Placed a invoice after work was completed. Builder made a part payment (%90 of work) by a cheqe. Later on my cheqe was cancelled without any notification to me. I can not tolk to the builder to find the reason. I have send a mail to him numerus times but no responce from him. I have also send a letter of deman to his adress. I found aout that he owns the site. Currently its for sale on the market. My invoice was made under Construction and Building Securty of payment act 1999 NSW Do i have a right to put caveat on the propety, what would be my next step?

 

[Ergophobia]

id be talking to a lawyer

 

[NedKelly]

id be talking to a lawyer

For sure, so would I!

 

[Terryw]

Hi Ned,

Did you end up getting any money back? also, you may be able to claim a deduction for the loss - check with your tax advisor - which may help lessen the pain.

 

[NedKelly]

Hi Ned,

Did you end up getting any money back? also, you may be able to claim a deduction for the loss - check with your tax advisor - which may help lessen the pain.

Hi Terry

I might get something back, like 10% if I am lucky, the trustee in bankruptcy has already made more I lost though. It's an interesting story. Because he had given some money to his wife the trustee pursued her to return it and eventually she ended up in bankruptcy as well. Turns out she has another property which will be sold but it has a little equity. It's amazing how these things just go on and on and on....... Will let you know if I ever get anything!