NAB v Waldron & Registrar of Titles [2015] VSC 141

The borrowers wife placed a caveat over the property claiming she had, many years prior to the mortgage being entered into, agreed to buy the property off her husband and had paid substantial amounts to him to that end. 

The Court found for the bank and ordered the caveat removed, commenting:

However, even if the interest claimed in the caveats had existed prior to registration of the plaintiff’s mortgage, the caveats must still be removed because notwithstanding the order of creation of the interest claimed by the caveator and the plaintiff’s mortgage, in the absence of fraud, the plaintiff as registered mortgagee holds its registered estate in the Land free of the claims

Even if it is accepted that the Contract of Sale remains on foot, which is somewhat questionable, given a period of six years has elapsed, any subsequent equitable caveatable interest which Mrs Sgargetta may have in the property is not one which will take priority over the bank’s registered legal interest.

Click here to read the full judgement.

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