7 Jun 2022
LSK BUILDERS 2011 LIMITED v CHAMBERLAIN [2022] NZCA 228
- Citation
- [2022] NZCA 228
- Court
- Court of Appeal
Once a contractual right to register a mortgage has been exercised and the mortgage registered, the contractual right to lodge and maintain a caveat to protect that right is spent; a caveat cannot be retained to secure amounts beyond the registered mortgage's stated priority limit or to provide separate security for additional debt, and therefore the caveat was redundant and must lapse.