No, there was no legal firm named, only that they had placed three caveats on the Ocean Street apartment between November and February, to stop it being sold.
The liquidators have also placed a caveat on the Edgecliff apartment (as well as the Dover Heights home).
In the Grimley's caveat they say that they contributed to 'part of the purchase price' when Melissa bought it, therefore they have an interest in the apartment.
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How do you put a caveat on a property in NSW?
Step 1 : Engage a solicitor or conveyancer to prepare a
caveat for electronic lodgment, or download and complete the
caveat form and relevant exception form in hard copy.
Step 2: Lodge
caveat and relevant exception form in person at
NSW LRS and pay fee, or electronically through your solicitor or conveyancer.
It’s vitally important to understand that 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.
Likewise, with any
real estate transaction, 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).
While it is best to have a caveat lodged by a solicitor, an individual can also place one themselves. It costs about $100.
A
caveat is merely a notice of claim which may or may not be a valid one.
The validity of the claim must be determined at some stage.
There are two main procedures to remove a
caveat and in each case, a caveator must be prepared to incur considerable expense to prove their interest in the property if they do not want the
caveat to be removed. They are:
- Removal by Application to the Registrar General
- Removal by Order of the Supreme Court
In both instances, the caveator will be obliged to commence court proceedings or defend proceedings to prove their caveatable interest.
The costs of these court proceedings will usually follow the event, which effectively means that if you are unsuccessful in proving a caveatable interest the costs will be claimed from you.
This has the potential to amount to liability to pay costs in the tens of thousands of dollars.
What Is a Caveat On a Property and How to Lodge One