31 Aug 2023
INTOP HOMES LIMITED v LOT 77 LIMITED [2023] NZHC 2418
- Citation
- [2023] NZHC 2418
- Court
- High Court
Intop did not have a caveatable interest when it lodged the caveat because it failed to follow the contractual mechanism in clauses 123 and 125 (no written demand and five working day cure period elapsed) required to create the right to demand a registrable memorandum of mortgage and thereby to register a caveat; the contingent security interest was therefore unperfected and did not survive cancellation, so the caveat must lapse.