Homework Question - Reasons to Put a Caveat on Property?

[Molly001]

James has just signed a contract to purchase a property in Wilson St, Bellfield. The school next to Wilson St. has be sold by the State Government and will be partially used as parkland.

James notices that there is some action around the old school site and requests that you place a caveat on his interest in the Wilson St Property.

Give your reasons for placing a caveat on the property and file notes on your actions.

 

[Sophea]

James may have some unregistered easement or other right of access over the land? That may give you grounds to lodge a caveat.

 

[Rod]

Signing a purchase contract gives a caveatable interest.

Reason would be informed in case State Gov't decides to compulsorily acquire the land.

 

[Molly001]

Signing a purchase contract gives a caveatable interest.

Reason would be informed in case State Gov't decides to compulsorily acquire the land.

Thanks so much