Q&A « Olly Newland

By: Olly Newland  05-Apr-2012

Q&A « Olly Newland

My question I guess is, as they never pursued the loan and there seems to be no evidence ie, original contract in existence….is there a legal way i could just have it removed? The property (our homestead) has been stalemate for the last 20 or so years and rotting badly…. We (me and my mum) are wanting to remove my dad’s name, put my name in his place and raise a mortgage to renovate the house but…….this caveat is like a knife we can’t remove, so to speak haha….

Any advice, comments or help would be heartfeltingly appreciated…

Regards Hemi

Dear Hemi
I would have thought that any good lawyer could apply to the LTO and give your story and have the registrar remove the caveat after he has made all the necessary enquires.
Another way that used to be popular was to register a $5 mortgage on the property which meant the caveat would have to be lifted to do so. This method is frowned on but it has been used from time to time.
I invite other readers to submit suggestions to help Hemi and any one else in the same position as the situation is not uncommon.

The information in this article was current at 27 Mar 2012

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