sec.124Effect of lodging caveat

### sec.124 Effect of lodging caveat A caveat prevents registration of an instrument affecting the lot over which the caveat is lodged from the date and time endorsed by the registrar on the caveat as the caveat’s date and time of lodgement. Subsection (1) has effect for a caveat until the caveat lapses or is cancelled, rejected, removed or withdrawn. However, lodgement of a caveat does not prevent registration of the following— an instrument specified in the caveat as an instrument to which the caveat does not apply; an instrument if the caveator consents to its registration; an instrument executed by a mortgagee whose interest was registered before lodgement of the caveat if— the mortgagee has power under the mortgage to execute the instrument; and the caveator claims an interest in the lot as security for the payment of money or money’s worth; an instrument of transfer of mortgage executed by a mortgagee whose interest was registered before lodgement of the caveat; if the caveator is a person who has the benefit of an order mentioned in section 122 (1) (e) —an instrument for a dealing other than a dealing restrained by the order; A caveat lodged by a person who has the benefit of an order mentioned in section 122 (1) (e) restrains the registered owner of a lot from transferring or mortgaging the lot. The lodgement of the caveat does not prevent registration of an instrument of lease for the lot. another interest that, if registered, will not affect the interest claimed by the caveator. The exceptions mentioned in subsection (2) (c) and (d) do not apply to a caveat lodged by the registrar. The exception in subsection (2) (d) does not apply to a caveat lodged by the registered owner. Lodgement of a caveat does not create in the caveator a registrable interest in the lot affected by the caveat. s 124 amd 1997 No. 28 s 295 sch 3 ; 2001 No. 33 s 32 ; 2019 No. 7 s 232 (sec.124-ssec.1) A caveat prevents registration of an instrument affecting the lot over which the caveat is lodged from the date and time endorsed by the registrar on the caveat as the caveat’s date and time of lodgement. (sec.124-ssec.1A) Subsection (1) has effect for a caveat until the caveat lapses or is cancelled, rejected, removed or withdrawn. (sec.124-ssec.2) However, lodgement of a caveat does not prevent registration of the following— an instrument specified in the caveat as an instrument to which the caveat does not apply; an instrument if the caveator consents to its registration; an instrument executed by a mortgagee whose interest was registered before lodgement of the caveat if— the mortgagee has power under the mortgage to execute the instrument; and the caveator claims an interest in the lot as security for the payment of money or money’s worth; an instrument of transfer of mortgage executed by a mortgagee whose interest was registered before lodgement of the caveat; if the caveator is a person who has the benefit of an order mentioned in section 122 (1) (e) —an instrument for a dealing other than a dealing restrained by the order; A caveat lodged by a person who has the benefit of an order mentioned in section 122 (1) (e) restrains the registered owner of a lot from transferring or mortgaging the lot. The lodgement of the caveat does not prevent registration of an instrument of lease for the lot. another interest that, if registered, will not affect the interest claimed by the caveator. (sec.124-ssec.3) The exceptions mentioned in subsection (2) (c) and (d) do not apply to a caveat lodged by the registrar. (sec.124-ssec.4) The exception in subsection (2) (d) does not apply to a caveat lodged by the registered owner. (sec.124-ssec.5) Lodgement of a caveat does not create in the caveator a registrable interest in the lot affected by the caveat. - (a) an instrument specified in the caveat as an instrument to which the caveat does not apply; - (b) an instrument if the caveator consents to its registration; - (c) an instrument executed by a mortgagee whose interest was registered before lodgement of the caveat if— (i) the mortgagee has power under the mortgage to execute the instrument; and (ii) the caveator claims an interest in the lot as security for the payment of money or money’s worth; - (i) the mortgagee has power under the mortgage to execute the instrument; and - (ii) the caveator claims an interest in the lot as security for the payment of money or money’s worth; - (d) an instrument of transfer of mortgage executed by a mortgagee whose interest was registered before lodgement of the caveat; - (e) if the caveator is a person who has the benefit of an order mentioned in section 122 (1) (e) —an instrument for a dealing other than a dealing restrained by the order; Example— A caveat lodged by a person who has the benefit of an order mentioned in section 122 (1) (e) restrains the registered owner of a lot from transferring or mortgaging the lot. The lodgement of the caveat does not prevent registration of an instrument of lease for the lot. - (f) another interest that, if registered, will not affect the interest claimed by the caveator. - (i) the mortgagee has power under the mortgage to execute the instrument; and - (ii) the caveator claims an interest in the lot as security for the payment of money or money’s worth;