on 07-05-2020 12:24 PM
It has recently been suggested to us by another Solicitor that a Transfer can still be registered through PEXA if there is a Caveat lodged over the Title. The Caveat will then run with and remain on the Title and will therefore become the problem of the new proprietors.
My understanding was that a Caveat would restrict the transfer of the property without the Caveator approving of the transfer and withdrawing their Caveat. If it doesn't, what is the point of the Caveat?!
Can anyone please advise.
on 12-05-2020 11:23 AM
In the event a transaction is taking place and the Caveat will remain on title, a Caveator's Consent will need to be reflected as a dealing requirement in the lodgement instructions.
Depending on the jurisdiction of the property the supporting document may differ according to the Land Registry requirements.
on 12-05-2020 12:41 PM
It also depends on the type of the caveat. You are correct in that generally, and absolute caveat will bar the registration of subsequent documents. However, there can be other types of caveats, such as "subject to claim" which can remain on the title and will not prevent registration of other documents. These are often used by Home Owner's Associations and run with the property over time.
Hope that helps
on 12-05-2020 03:29 PM
As with the 'paper' channel, most Land Registries will accept Lodgement of the Transfer, but REGISTRATION is a different matter.
Absolute Caveats will prevent Registration, unless removed.
Subject to Claim Caveats may prevent Regsistration, depending on the Caveats Claim.
This is really a Land Registry processing matter.
Travis Sullivan - PEXA.