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Caveats and Lapsing Notices |
Builders, land purchasers and financiers often take caveats against land to secure the obligations of the land owner. The land owner can lodge a "Lapsing Notice" at Land & Property Information. |
If you ignore the Lapsing Notice, the caveat will lapse and be removed from the title. You have 21 days from receipt of a Lapsing Notice to apply to the Court to protect your equitable interest and to obtain an extension of the caveat. The Court frowns on last minute applications to extend caveats so you should: |
- Have your correct address on all caveats;
- Note the time and date you receive a Lapsing Notice; and
- Immediately instruct your lawyers to take action to protect your interest in the land and to obtain an extension of the caveat.
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