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Glossary

Lapsing notice

Also called: caveat lapse

A lapsing notice is a process available in some states that requires a caveator to take court action to support a caveat within a set period, or the caveat lapses and is removed from the title. The process and timeframes are set by each state's land titles legislation.

An example

An owner selling a property finds a caveat on title from a lender whose loan they dispute. The owner applies to the land titles office for a lapsing notice, and the lender must either commence proceedings or lose the caveat.

Why it matters

For a caveat lender, a lapsing notice can remove its protection quickly. For a borrower, it is one route to clearing a title, but it does not resolve the underlying debt. Anyone facing a lapsing notice should get legal advice promptly because deadlines are short and strict.

Points to check

If you hold a caveat, note that the owner or another party may be able to start the lapsing process, after which you have a limited time to take court action or the caveat lapses. If a caveat is blocking your sale or refinance, ask a lawyer whether a lapsing notice is available in your state. Deadlines are strict, so act promptly and keep copies of all notices.

Related terms

Further reading: Land Use Victoria