140Effect of lodging caveat

140 Effect of lodging caveat (1) A caveat lodged under this Act prevents registration of another instrument affecting the lot over which the caveat is lodged from the date and time endorsed by the Registrar-General on the caveat as the caveat's date and time of lodgment. (2) Subsection (1) has effect for a caveat until the caveat lapses or is cancelled, rejected, removed or withdrawn. (3) The lodging of a caveat does not prevent registration of the (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 it being registered; (c) an instrument executed by a mortgagee whose interest was registered before the caveat was lodged 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; (d) an instrument of transfer of mortgage executed by a mortgagee whose interest was registered before the caveat was lodged; (da) if the caveator is a person who has the benefit of an order mentioned in section 138(1)(e) – an instrument for a dealing other than a dealing restrained by the order;

Land Title Act 2000 76 (e) another interest that if it is registered will not affect the interest claimed by the caveator. Example for subsection (3)(da) A caveat lodged by a person who has the benefit of an order mentioned in section 138(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. (4) The exceptions in subsection (3)(c) and (d) do not apply to a caveat lodged by the Registrar-General. (5) The exception in subsection (3)(d) does not apply to a caveat lodged by the registered owner.