‘Caveat’ is a Latin word means ‘let a person beware’. A caveat petition is a type of independent notice that is recorded on the name of real property to protect the interest which the caveator may have on the real property. Any third party who may seek to deal with the real property is placed on notice about the caveator’s claim by the existence of the caveat.
1. Application to file caveat which is signed by advocate on record containing.
cause title and case number.
name of the court appealed from.
date of impugned judgment.
designation of the authority.
particulars of order.
2. court fees
3. vakalatnama and memo of appearance.
4. memo of parties.
1. Name of the court where caveat to be filed.
2. The suit number, appeal number.
3. Caveator’s name.
4. Brief details of the suit to be filed.
5. Names of possible plaintiffs.
A caveat is a type of injunction – it is an order made by the honorable court that directs an individual to do something or quit doing a specific function. It essentially prevents the owner of the property without the caveator’s consent.
A caveat generally prevents the registration of any transactions affecting a property like transfer, mortgage or lease of a property. It informs the caveator that when an outsider is attempting to register dealing on the property or where the proprietor is transferring the property.
A caveat does not award a caveator the right to own the property or sell the property. People can file a caveat if they have any interest in a particular property. that you cannot protect that by registration of a mortgage. However, if you can lodge a caveat without reasonable cause, you may be liable to pay compensation to the owner if they suffer any losses or damages as a result of the caveat. Caveats are typically utilized as some sort of safety, especially for the loans. The borrower can authorise the lender to lodge a caveat on the property.
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