Caveats – Room for rent in Singapore
A caveat is a legal document lodged at SLA by a person (known as a “caveator”) against a property in which the caveator claims an interest. The Land Titles Act allows any person who claims an interest in the property to lodge a caveat. When a caveat is lodged, the Registrar of Titles will notify it against the property. Room for rent in Singapore. Usually when a buyer of a property has paid the deposit and exercised the Option to Purchase, the buyer’s lawyer will prepare and lodge a caveat with SLA on the buyer’s behalf. The caveat is essential because it is a notice of the buyer’s claim to the property. On occasions where there is more than one claim to the same property, the time when the caveat is lodged is crucial because it shows you to be the first claimant to the property. Once a caveat is lodged and accepted by SLA, a caveat notice will usually be served on the following persons: a) the owner of the property; and/or b) the buyer of the property if the financial institution which granted a loan to the buyer lodges a caveat.
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