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How to avoid problems caused by caveats

Caveats can present unwanted delays and costs for buyers or sellers in property transactions and are another important reason why it is prudent to engage a qualified lawyer for the conveyancing process.

The online conveyancing service provided by Conveyancing.com is operated by skilled and experienced property lawyers backed by the expertise that can only be provided by a premier law firm.

Conveyancing.com Managing Director Jim Parke says property purchasers have the right to lodge a caveat against the title, to protect their interest in the property.

He says this provides notice to an intending mortgagee or caveator of the intended buyer’s interest in the property.

“Lodging a caveat also means that if there is a delay in stamping the transfer and lodging the same for registration, notification will be sent by the registrar if anyone else tries to lodge a document in respect to the title,” Mr Parke says.

When buying a property, Conveyancing.com will routinely check no caveats are recorded on the property title.

“If caveats are present,” Mr Parke says, “it is important assurances are obtained in the Contract of Sale that settlement is conditional on their withdrawal before settlement occurs.”

If selling a property, Conveyancing.com will also ensure no caveats are registered on the title.

If this is the case, the property lawyers at Conveyancing.com will make arrangements with the caveator for the caveats to be withdrawn.

Mr Parke says if caveats are not dealt with effectively and professionally, these matters can create unnecessary delays and frustrations, not to mention unwanted costs.

“Those intending to buy or sell property should entrust the conveyancing process to a professionally trained legal professional who can offer legal advice and not just do a conveyance transaction and not understand any of the pitfalls,” he says.

Conveyancing.com combines the convenience of an online service with the professional expertise of property lawyers.

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