Purchaser Caveat

[cpscon]

I have placed a purchaser caveat on title

The caveator is showing as unrepresented parties in the transfer workspace

do I need to represent the caveator??

If so how do I represent them as I cannot click on the cog ?

terry

[AaronG · Accepted solution]

Hi @cpscon

You only need to represent the caveator on title if you wish to prepare a withdrawal of the caveat. If not then you can leave this party unrepresented.

If you are representing the Purchaser you can add this party to the workspace by clicking on ''Create Party".

I hope this answers your question.

[cpscon]

Thanks Aaron - I though that may have been the case just wanted to be 100%

Appreciate your response

Regards

terry

[Roslynne]

Hi Aaron

I think I have the same question, but in more detail, will the Purchaser caveat automatically lapse on registration of the Transfer, as does in the paper world?   Does PEXA/Land Victoria recognise that the Caveator & Transferee are one and the same?   If so, then I should have one workspace representing the transferee but not representing the caveator, correct?

Thanks

Ros.

[AaronG]

Hi @Roslynne

Yes it works the same as in paper.  

And yes you do not need to add another role as caveator on title as you only need to add this role if the caveat details do not match the Transfer and therefore need to create a Withdrawal of that caveat.

Regards

Aaron

[cpscon]

Hi Ros

The answer is YES it is recognized just like paper

My settlement that I was querying went thru all OK last Friday

The workspace will show the caveators as "unrepresented"

Provided caveator and purchaser names identical it will go thru OK

Regards

terry

[BGoodwin]

I question the need for a Purchaser's Caveat when a Priority Notice achieves the same result for a cheaper cost.

[Roslynne]

Thank you for clarifying :-)

[cpscon]

I agree however Priority Notice only valid for 60days

When releasing a deposit with more than 60 days on the contract wouldn't purchaser be better served with a caveat?