Can a Property be Sold if it has a Caveat on it?
The short answer here is ‘no’, in most circumstances a property cannot be sold if a caveat is in place. Many people refer to a caveat as an ‘encumbrance’. This is because it has been registered over the title to a property precisely in order to stop other interested parties from properly dealing with or transacting said property.
A caveat will generally prevent the majority of dealings relating to the title of a property. This of course includes halting the sale of the property by the owner. Likewise caveats can also hamper efforts towards obtaining a mortgage or other finance for a property.
However, rest assured that the caveator (the person who lodged the caveat) is not granted any special rights or powers over the title to the property itself. The existence of the caveat simply means that dealings with the title have been halted.
Still, it is of the utmost importance that you take immediate action to remove a wrongful caveat that is interfering with your interests over a property. This is especially true if you wish to sell your property or gain finance for it at any time in the near future. The existence of a caveat – whether wrongful or not – will almost certainly prevent you from obtaining your required mortgage, and it will stop you from selling the property or land.
As such we recommend you contact us as soon as possible to commence urgent caveat removal via the Supreme Court of Victoria.
Please Contact Caveat Removal Victoria should you wish to take action toward removing a caveat on a property in Victoria.