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Caveat

Discussion in 'Investing Glossary' started by Glossary, 26th Sep, 2006.

  1. Glossary

    Glossary Active Member

    Joined:
    12th Sep, 2006
    Posts:
    25
    Definition:

    A legal mechanism to prevent some action being taken on a property (eg selling it) until the person lodging the caveat has had a chance to take action themselves if required.

    Any person or entity with an interest in a property can apply to lodge a caveat with the Land Titles Office to ensure the property is not sold or otherwise dealt with without his/her knowledge. A property cannot be transferred from one party to another whilst a caveat is in place.