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When the failure to lodge a caveat will deprive an earlier interest in land of its priority

LTDC Pty Ltd v Cashflow Finance Australia Pty Ltd [2019] NSWSC 150

In the recent decision of Bunnings Group Pty Ltd v Hanson Construction Materials Pty Ltd & Anor [2017] WASC 132, it was held that the failure to lodge a caveat will not of itself operate to deprive a prior equitable interest of its priority status. The subsequent charge holder was the first in time to lodge a caveat but – critically – when it assumed the right that would give rise to a charge it had not conducted any title search. In the recent decision of LTDC v Cashflow the Supreme Court of New South Wales has given guidance as to those circumstances where a failure by a party to lodge a caveat will operate to displace the ‘first in time’ rule.

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