Pursuant to a settlement agreement reached with borrowers following a farm debts mediation, a course was agreed to sell the farms to repay the debt. The lender entered into contracts to sell the farms as mortgagee and the borrowers lodged caveats to prevent the settlements occurring and the lender sought their removal. The borrowers argued …
The lender efforts to sell were repeatedly stymied by a ‘serial caveator’ lodging nuisance caveats, alleging he was a long term lessee. The court said: The grant of any lease without the consent of the plaintiff would have been a breach of the terms of the mortgage and the memorandum of provisions. Furthermore, even if …
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 …
NAB v Waldron & Registrar of Titles [2015] VSC 141 Read More »
The borrower was declared bankrupt and security became vested in his trustee. The trustee in bankruptcy exercised his power to disclaim the property as ‘onerous property’ pursuant to s 133(1) of the Bankruptcy Act, on the basis that the land was subject to a mortgage by the bank and a second unregistered mortgage. The effect of such …
The background of this matter involves a husband and wife that entered into a Binding Financial Agreement when they separated. The couple owned two properties as joint tenants. One of the terms of the Agreement was that the husband would transfer his interest in property A to the wife. Similarly, the wife would transfer her …
White v White & Registrar of Titles [2014] VSC 449 Read More »
A corporate trustee bought property on behalf of a family trust. The director of the company paid the deposit and the balance was borrowed from a bank. That director later became bankrupt. The company purported to sell the property and the trustees in bankruptcy lodged a caveat claiming an interest in the land pursuant to …
A developer purchased land using vendor finance and gave the vendor an equitable charge over the land, which he then subdivided and developed. The developer sought to refinance other loans secured by undeveloped lots which required the removal of the vendor’s caveats over the fully develop lots so they could be provided as additional security …
West Coast Developments v Lehmann [2014] VSC 293 Read More »
A caveator sought an extension of its caveat which was opposed by the registered mortgagee. The caveator argued the fraud exception to indefeasibility. The caveator sought to infer dishonesty from the fact that the borrower knew of the existence of the charge, yet proceeded to grant the mortgage to secure a debt in excess of …
Maxton & Maxton v Port Village Accommodation [2014] WASC 93 Read More »
Persons associated with the borrower lodged three caveats which were removed by the court. The lender sought compensation against each caveator on the grounds each had been lodged without reasonable cause. The court found the caveats were lodged with the intention of frustrating the sale. However the lender failed in respect of one caveat by …
The mortgagee in possession sought removal of the owner’s caveat to permit settlement. The owner then applied to the court to extend his caveat. The obstacle was that even if it were assumed that the owner had an equity to rescind the sale on the basis of a fraudulent or improper mortgagee sale sufficient to …
Wichniewicz v Registrar Of Titles [2014] WASC 18 Read More »
