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LAND TITLE ACT 1994 - SECT 126

Lapsing of caveat

126 Lapsing of caveat

(1) This section does not apply to a caveat if—
(a) it is lodged by the registered owner; or
(b) the consent of the registered owner, in the appropriate form, is deposited when the caveat is lodged; or
(c) an office copy of a court order mentioned in section 122 (1) (d) or (e) is deposited when the caveat is lodged; or
(d) it is lodged by the registrar under section 17 ; or
(e) it is lodged other than under this division.
(1A) However, this section applies to a caveat lodged by the registered owner of a lot if—
(a) the lot is subject to a mortgage; and
(b) the grounds stated in the caveat relate to the actions of the mortgagee in relation to—
(i) if the mortgage is registered—registration of the mortgage; or
(ii) the mortgagee’s power of sale.
(2) The caveatee of a caveat to which this section applies—
(a) may serve on the caveator a notice requiring the caveator to start a proceeding in a court of competent jurisdiction to establish the interest claimed under the caveat; and
Note—
See section 131 in relation to the service of notices on the caveator.
(b) if the caveatee serves a notice under paragraph (a) —must, within 14 days after the notice is served, deposit an instrument notifying the registrar of the service of the notice.
(4) If a caveator does not want a caveat to which this section applies to lapse, the caveator must—
(a) start a proceeding in a court of competent jurisdiction to establish the interest claimed under the caveat—
(i) if the caveatee has served a notice under subsection (2) (a) on the caveator and has complied with subsection (2) (b) —within 14 days after the notice is served on the caveator; or
(ii) otherwise—within 3 months after the lodgement of the caveat; and
(b) notify the registrar, by depositing an instrument, within the 14 days or the 3 months that a proceeding has been started and identify the proceeding.
(5) If the caveator does not comply with subsection (4) , the caveat lapses.
(6) The caveator is taken to have complied with subsection (4) (a) if, before the caveat was lodged—
(a) a proceeding has been started in a court of competent jurisdiction to establish the interest claimed under the caveat; and
(b) the proceeding has not been decided, discontinued or withdrawn.
(7) The registrar may remove a caveat that has lapsed from the freehold land register.



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