sec.126Lapsing of caveat

### sec.126 Lapsing of caveat This section does not apply to a caveat if— it is lodged by the registered owner; or the consent of the registered owner, in the appropriate form, is deposited when the caveat is lodged; or an office copy of a court order mentioned in section 122 (1) (d) or (e) is deposited when the caveat is lodged; or it is lodged by the registrar under section 17 ; or it is lodged other than under this division. However, this section applies to a caveat lodged by the registered owner of a lot if— the lot is subject to a mortgage; and the grounds stated in the caveat relate to the actions of the mortgagee in relation to— if the mortgage is registered—registration of the mortgage; or the mortgagee’s power of sale. The caveatee of a caveat to which this section applies— 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 See section 131 in relation to the service of notices on the caveator. 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. If a caveator does not want a caveat to which this section applies to lapse, the caveator must— start a proceeding in a court of competent jurisdiction to establish the interest claimed under the caveat— 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 otherwise—within 3 months after the lodgement of the caveat; and 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. If the caveator does not comply with subsection (4) , the caveat lapses. The caveator is taken to have complied with subsection (4) (a) if, before the caveat was lodged— a proceeding has been started in a court of competent jurisdiction to establish the interest claimed under the caveat; and the proceeding has not been decided, discontinued or withdrawn. The registrar may remove a caveat that has lapsed from the freehold land register. s 126 amd 1997 No. 28 s 295 sch 3 ; 2001 No. 57 s 7 ; 2013 No. 23 s 133 ; 2017 No. 10 s 35 ; 2019 No. 7 s 233 (sec.126-ssec.1) This section does not apply to a caveat if— it is lodged by the registered owner; or the consent of the registered owner, in the appropriate form, is deposited when the caveat is lodged; or an office copy of a court order mentioned in section 122 (1) (d) or (e) is deposited when the caveat is lodged; or it is lodged by the registrar under section 17 ; or it is lodged other than under this division. (sec.126-ssec.1A) However, this section applies to a caveat lodged by the registered owner of a lot if— the lot is subject to a mortgage; and the grounds stated in the caveat relate to the actions of the mortgagee in relation to— if the mortgage is registered—registration of the mortgage; or the mortgagee’s power of sale. (sec.126-ssec.2) The caveatee of a caveat to which this section applies— 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 See section 131 in relation to the service of notices on the caveator. 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. (sec.126-ssec.4) If a caveator does not want a caveat to which this section applies to lapse, the caveator must— start a proceeding in a court of competent jurisdiction to establish the interest claimed under the caveat— 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 otherwise—within 3 months after the lodgement of the caveat; and 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. (sec.126-ssec.5) If the caveator does not comply with subsection (4) , the caveat lapses. (sec.126-ssec.6) The caveator is taken to have complied with subsection (4) (a) if, before the caveat was lodged— a proceeding has been started in a court of competent jurisdiction to establish the interest claimed under the caveat; and the proceeding has not been decided, discontinued or withdrawn. (sec.126-ssec.7) The registrar may remove a caveat that has lapsed from the freehold land register. - (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. - (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. - (i) if the mortgage is registered—registration of the mortgage; or - (ii) the mortgagee’s power of sale. - (i) if the mortgage is registered—registration of the mortgage; or - (ii) the mortgagee’s power of sale. - (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. - (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 - (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. - (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 - (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.