I am going through a property settlement atm and I am half owner of a property with my ex partner. We are unable to settle yet because his father has placed a Caveat on our property stating he has an equitable interest because he had gone guarantor and payed it out when we were foreclosed on. We don't have any agreement to pay him back but there was an old caveat we were asked to sign at the time of mediation with the bank but it had not been lodged and was not our idea at. This was 6 years ago and there has been no more caveats lodged until our separation. I have moved out and they know my new address but have not notified me of this caveat even though I have had communications with the fathers lawyer who lodged the caveat. It has since expired and there had not been any proceedings issued with the court by either of the other parties. I have started my own proceedings for settlement knowing the father is wanting the property in payment for his paying out the loan and my ex partner is wanting to give it all to him knowing it will eventually come back to him anyway. I have invited him as a respondent to my proceedings unaware of the caveat that they are all privy to. Not sure where I stand legally. We are in the process of arranging mediation based on this situation.
Even without a caveat, if the father can show equitable interest, he can apply to become a party to proceedings... What that interest amounts to will depend on all the circumstances, & of course it is then up to if & what agreement can be reached.
I am interested to know if the lodging of a caveat in the first place was done illegally by not giving me notice or an opportunity to dispute it in the first place.
Also I thought that there is no guarantee when you go guarantor unless an agreement to repay has been signed.
Also I thought that there is no guarantee when you go guarantor unless an agreement to repay has been signed.
No.
Sorry, this makes no sense. You signed an agreement with someone to repay when you borrowed the money.
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