Sood v Kalokeri [2011] NSWSC 85

The lender sought leave to lodge a further caveat after a caveat had been lapsed. Shortly before the proceedings were commenced the property was transferred from wife to husband for no consideration. The transfer had not yet been lodged.

By the time the application was heard the transfer had been registered. The lender could no longer press for a further caveat. The borrower applied for indemnity costs. This was refused because the borrower had not notified the lender of the transfer and had it done so, the proceedings would not have been commenced.

The lender ought to have sought an interim order at the time of filing its application. This would either be leave to lodge a caveat or an injunction preventing the borrower from dealing with the property.

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