Zhou v Li [2021] NSWSC 527

Zhou v Li [2021] NSWSC 527

The plaintiff raised a serious question to be tried as to whether he had an equitable interest in the Epping property arising from the loan and conversations with the first defendant. The balance of convenience favoured extending the caveat because the feared banking prejudice had not materialised, there was no present sale offer, liberty to apply was available if circumstances changed, and the plaintiff offered the usual undertaking as to damages secured by a limited charge.

Jurisdiction
Australia
Judgment Date
12 May 2021
Procedural Posture
Application to Extend Caveat / On the Papers, Procedural Ruling on Plaintiff's Motion
Outcome
Caveat extended until further order on terms.
Legal Topics
['application to Extend Caveat' 'equitable Lien' 'serious Question to Be Tried' 'balance of Convenience' 'usual Undertaking as to Damages']
['land Law' 'equity' 'real Property'] ['application to Extend Caveat' 'equitable Lien' 'serious Question to Be Tried' 'balance of Convenience' 'usual Undertaking as to Damages']

Case Brief

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Procedural Posture

Application to Extend Caveat / On the Papers, Procedural Ruling on Plaintiff's Motion

Legal Issues

  1. 1 ['Whether the plaintiff had raised a serious question to be tried as to an interest in the Epping property supporting the caveat.' 'Whether the balance of convenience favoured extending the caveat.' 'What terms, including an undertaking as to damages and security, should apply if the caveat were extended.']

Ratio Decidendi

The plaintiff raised a serious question to be tried as to whether he had an equitable interest in the Epping property arising from the loan and conversations with the first defendant. The balance of convenience favoured extending the caveat because the feared banking prejudice had not materialised, there was no present sale offer, liberty to apply was available if circumstances changed, and the plaintiff offered the usual undertaking as to damages secured by a limited charge.

Court Disposition

Caveat extended until further order on terms.

Orders

  • ['Upon the plaintiff, by his counsel, giving the usual undertaking as to damages, pursuant to section 74K(2) of the Real Property Act 1900 (NSW), the caveat lodged by the plaintiff with dealing number AQ860446 over the property comprising Lot 4 in Deposited Plan 6385 and known as 41 Rawson Street, Epping NSW 2121 is...