Trust caveat
Under sec 332(1) of the National Land Code 1965, a trust caveat may be entered by the registrar in respect of any land or interest which, pursuant to sec 244 or any corresponding provision is expressed to be held by any persons or bodies as trustees.
The trust caveat prohibits any registration, endorsement, or entry of any of the following:
- (a) Any instrument of dealing, or class or description of instrument of dealing, directly affecting the trust property;
- (b) Any claim to the benefit of any tenancy exempt from registration granted directly thereof; and
- (c) Any lien holder’s caveat in respect thereof.
The trust caveat is perpetual until it is cancelled by the registrar.
This preview is an excerpt from the following publication. this publication for access to all the commentary and precedents.
Purchase of Real Property - Step by Step Guide & Precedents
by By Lawyers For Lawyers author - Jayadeep Hari & Jamil
Overview
This Purchase Step-by-Step Legal Practice Guide and Precedents contains extensive precedents and guidance to enable a lawyer to complete a purchase of property matter including guidance on:
- Sale and purchase agreement with title
- Sale and purchase agreement without title
- Purchase by foreigner
- Caveats
- Real Property Gains Tax
- Strata Titles Act 1985
A wide range of precedent forms and letters used through the course of the transaction are also included. As with all Step-by-Step Guides this guide takes you sequentially through a Purchase matter from getting the matter underway and taking instructions, right through to finalisation.