If you have an interest in a property located in Queensland, Australia, and wish to protect that interest, lodging a caveat can be a crucial step. A caveat is a legal notice that serves as a warning to anyone dealing with the property that there is a specific claim or interest in it. By lodging a caveat, you can safeguard your rights and prevent any unauthorised transactions or dealings concerning the property until your claim is resolved. Continue reading this Legal Kitz blog post to find out more.
How do I put a caveat on a property?
In Queensland, Australia, putting a caveat on a property involves a straightforward process, but it’s essential to follow the correct steps to ensure its validity and effectiveness. Here’s a guide on how to do it:
- Obtain the caveat form: Contact the Queensland Land Titles Office or visit their website to download the relevant form, Form 11 – Caveat.
- Fill out the form: Provide accurate details, including your name and address, the property’s details (lot and plan number), and the nature of your interest or claim on the property.
- Support your claim: Attach any supporting documents or evidence that substantiates your interest in the property.
- Sign the form: The caveat form must be signed by you in the presence of a qualified witness, such as a Justice of the Peace (JP) or a solicitor.
- Lodge the caveat: Submit the completed and signed form to the Queensland Land Titles Office. Pay the required fee at this stage.
- Notify interested parties: Once lodged, a Notice of the Lodgement of Caveat will be sent to the property owner, informing them of the caveat’s existence.
- Caveat registration: The caveat will be registered on the property title, warning any potential buyers, lenders, or interested parties of your claim.
Why would I put a caveat on a property?
Putting a caveat on a property is a prudent step to protect one’s interests and rights in various situations:
- Unpaid debts: If someone owes you money and is the registered owner of a property, lodging a caveat can prevent them from selling or transferring the property without settling the debt.
- Disputed ownership: When there is a dispute over property ownership, a caveat can assert your claim until the matter is legally resolved.
- Unsettled legal matters: If you have a pending legal case or claim related to the property, a caveat can notify potential buyers or lenders about the ongoing legal issues.
- Family law proceedings: During divorce or separation, a spouse may place a caveat on a jointly owned property to safeguard their interest in its division.
- Protecting beneficial interests: If you have a beneficial interest in a property but are not the registered owner, a caveat can protect your stake.
- Preventing fraudulent transactions: A caveat can act as a warning against fraudulent attempts to sell or mortgage the property by unauthorised parties.
- Estate administration: Caveats can be used in probate matters to protect the estate’s assets during the administration process.
How much does it cost to put a caveat on a property?
The cost of putting a caveat on a property can vary depending on several factors, such as the location, the type of property, and whether you seek professional assistance. Here’s a breakdown of potential expenses:
- Caveat lodgement fee: This fee is typically required to lodge the caveat with the relevant land titles office or authority. In some regions, it could range from $100 to $200.
- Legal or professional fees: If you decide to seek legal advice or hire a conveyancer to assist with the process, there will be additional fees involved. These fees can vary widely depending on the complexity of your case and the rates charged by the professional.
- Title search fee: Before lodging a caveat, it’s prudent to conduct a title search to ensure you have the correct property details. A title search fee may apply, ranging from $20 to $50.
- Witnessing fees: If you need a qualified witness, such as a Justice of the Peace or a solicitor, to witness the signing of the caveat form, there might be a small fee for their services.
It’s essential to research the specific costs in your region and consider seeking legal advice to understand the complete expenses involved. Keep in mind that these costs are subject to change and may vary over time.
How long does a caveat on a house last for?
The duration of a caveat on a house varies depending on the jurisdiction and local laws. In general, a caveat typically lasts for a limited period, such as six months to one year. After this initial period, it may expire unless renewed.
To maintain the caveat’s effect, the claimant must renew it within the specified timeframe. The renewal process is often similar to the initial lodging process, requiring updated information and payment of relevant fees.
It’s crucial to stay informed about the expiry date and adhere to renewal deadlines to ensure the continued protection of your interests and rights associated with the property. Failure to renew the caveat on time might result in its removal from the property title.
Legal advice
If you need further assistance or advice regarding how to put a caveat on a property, Legal Kitz would love to help you. We offer free resources and the option to request a free 30-minute consultation for all your corporate queries.