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Protecting interests in or claims to land
Caveats, settlement notices and writs of execution
The implications of TorrensIssue Common law Land Title Act
Process to create legal interest
Determining priority
Volunteers
Issue of notice
Need for bona fides?
Role of equity
The Torrens system only deals with legal interests in land.
☐ True☐ False
Other dealings (LTA)
Caveats
Nature Effect
Writs of execution
Effect
Settlement notices
Effect
CAVEATSThe role of equity, and…
Two scenarios
No caveat
lodgment registration
Caveat
Caveats put the world on notice
A caveat does not enlarge your interest in land.
Image: http://pixdaus.com/big-yellow-duck-by-greg-naeseth-duck/items/view/309884/
Form of caveat, cont’d
What are these ‘other grounds’? Read the LTA
Who can lodge a caveat?: LTA
A person claiming an interest in a lot
What does interest mean? Where might you find this meaning?
definitions section part Acts Interp Act
Who can lodge a caveat?
• Bill signs a contract to sell his land to Ben. Ben finds out Bill has also signed a contract to sell to Helen. Does Ben have a caveatable interest?
• Peter borrows money from the bank, and deposits his title deeds as security. Does the bank have a caveatable interest?
• Joanne has signed a contract to buy a farm. The contract is subject to finance. Does Joanne have a caveatable interest?
• Margaret has defaulted on her mortgage, and the bank has exercised its power of sale. The bank has signed a contract to sell to a related entity. Does Margaret have a caveatable interest?
Who can lodge a caveat?• Jonathan has signed a contract to buy land
that is subject to council approval for subdivision. Council has not yet given its approval. The owner is threatening to sell the land to a third party. Does Jonathan have a caveatable interest?
• Pauline is a beneficiary under a trust that owns land. The trustee is planning to sell the land. Does Pauline have a caveatable interest?
Case Interest Caveat?
Ben v Bill Equitable interest in an estate in fee simple as purchaser under a contract
Is it unconditional? Chang v Registrar of Titles
Bank v Peter Equitable interest by way of deposit of title deeds
Re Dixon’s Caveat
Joanne Equitable interest as purchaser under contract
Conditional: Re Dimbury, Re CM Group Caveat say no distinguish? – is it specifically enforceable. Cf Re Henderson’s Caveat
Margaret Mere equity to have the sale set aside (Latec)
Re Pile = noCf Re McKean’s Caveat = likely yes
Case Interest Caveat
Jonathan Equitable interest as purchaser under conditional contract for sale
Re CM Group Caveat – noBut see Re Henderson
Pauline Interest as beneficiary under a trust has a mere right to be considered in distribution – not an interest in land
No (Though see Kennon v Spry for a new take on this…)
Caveats’ life span
• Find the provisions (LTA)
• What is their scope• Identify the
different time-frames that apply
• Draw a diagram representing these time-frames
Two different issues
Is there a caveatable interest?
Which interest takes priority?
What can you do with a caveat?
Does the LTA promote alternative dispute resolution to resolve competing interests in land?
Review the caveat provisions in the LTA – what are the triggers for the time-frames?
Can you caveat again?
SETTLEMENT NOTICESProtecting specific interests
Settlement notices: Work through the LTA
What is it? Who qualifies?
What is the effect?
How long do they last?
Effect on instruments
?
WRITS OF EXECUTIONOther…
Writs of Execution: work through the LTA
What is it? How is it issued?
What is its effect?
What are the time limits?
Black v Garnock
Black got judgment a/g respondent
Judgment debtor agt sale to respondent
Pcher: clear check search
½ hour later: Black warned of
writ of execution
1 ½ hour later: Black lodged
writ of execution
What is the effect of the
writ of execution?
OverviewScope of Torrens
Torrens encompasses equity too!
Nature of Caveats
Caveats stop registration; warn the world
Scope of Caveats
Caveats apply to interests in land
Nature of Settlement notices
Same or different from caveat?
Nature of writ of execution
What are they & how do they work?