Understanding Caveats and How Renown Private Lending's RPL Pay Later Loan Can Help
What is a Caveat on Property?
A caveat on property serves as a formal notice indicating that a third party claims an interest or right over the land or property. It acts as a legal safeguard, effectively warning potential purchasers, mortgagees, or others interested in the property that the land is subject to another party’s claim. The term caveat literally means 'beware', and it is intended to alert prospective buyers in property transactions.
Usually, the party lodging the caveat, known as the caveator, has the claimed interest due to reasons such as an unpaid debt secured by the property, a pending property settlement after a divorce, or an equitable interest arising from contributions made towards the property.
Under the Real Property Act, the caveat lodger must fill out a Form C1 to lodge a caveat. The document should specify the nature of the interest claimed and may cause the registered proprietor to pay compensation or halt the property sale until court proceedings resolve the issue.
Navigating Property Caveats
As complex as property caveats may sound, you’re not alone. At Renown Private Lending, we help you navigate through this maze. Whether you need to lodge a caveat or deal with one affecting a property you’re interested in, we’re here to assist. Our professional team can help you understand the implications, ensure statutory injunctions are met, and guide you through any legal documents involved with the help from our outsourced legal team..
So, before engaging with a property with a caveat or planning to lodge one, seek legal advice from our dedicated team.
With Renown Private Lending, you can ensure your property transactions are smooth, legal, and fair.
Do I Have a Caveatable Interest in a Property?
A caveatable interest is an interest that allows a caveat to be registered on a property title. It can be a useful tool to protect your interest in the land, and there are many such interests. These include:
A life tenancy in a property
Rights of someone who has contributed to the acquisition, maintenance, and improvement of the land
A beneficiary’s interest in the property in accordance with the will of a deceased person
If you think you have a legal interest in a property but are not registered on the title, your conveyancers can advise you and arrange for the registration of a caveat on your behalf.
Private Mortgages and Caveats
We can also advise and assist you with the necessary paperwork for a private mortgage or a caveat. This is recommended if you lend money to a party specifically relating to real property and are considering registering your interest against the property. Working with Renown Private Lending to do this is an important step to protect a private mortgage. In due course, the discharge comes about once full payment has been made.
Introducing Our RPL Pay Later Loan
Unlock new opportunities with Renown Private Lending's Pay Later solutions.
At Renown Private Lending, we understand that timing is crucial when dealing with property matters. That’s why we offer a variety of flexible and affordable funding options to help you achieve your goals without delay. Our RPL Pay Later Loan is a caveated loan option designed to provide substantial short-term funding with ease.
Product Overview:
Larger Short-Term Funding: Need substantial short-term financing while selling a property? Looking to access your property equity quickly to seize a timely opportunity?
Key Benefits:
Easy application process
Rapid assessment
Funds transferred to your chosen account
Up to $500,000*
Up to 120 days
Up to 12 months for business-related purposes*
If you are not in the process of selling your property, your application will undergo our serviceability assessment.
*Renown Private Lending offers up to $500k in short-term funding to qualified applicants. If you're pressed for time and need funds promptly, get in touch to book a session with our team and receive expert assistance tailored to property owners.
*Terms and conditions apply. For approved applicants only. Subject to Renown Private Lending's lending and suitability criteria.
How Renown Private Lending Can Assist You
Deposit on a New Property: Access your equity ahead of the settlement date.
Construction Finance: Complete your project to your specifications.
Bridging Finance: Secure the necessary funds to cover financial gaps.
Additional Information
We’re dedicated to helping you find effective solutions to manage your property expenses. Our products provide unmatched flexibility and affordability, empowering you to take control of your finances and enhancing your overall property ownership experience.
Renown Private Lending simplifies the process of maximising the value of your most valuable asset. Contact our Support Team or enquire below to discover how we can support your unique needs.
