In Victoria, the trio of easements, covenants, and caveats play a pivotal role in defining and safeguarding property interests.
But what are they?
Easements
Essentially an easement grants a legal right to use someone else’s land for a specific purpose, such as access or utilities. It grants a non-possessory interest in the land and is usually registered on the property title. Easements can be created by agreement, necessity, or by prescription over time.
Covenants
A covenant, in property law establishes a legal agreement or promise between landowners that imposes certain restrictions or obligations on the use of the land. These agreements are generally recorded on the property title and can cover various matters, such as architectural design, land use, or building restrictions.
Covenants can be used to maintain specific standards within a community or protect the interests of property owners.
If a covenant is breached or violated, it may lead to legal consequences, so it is essential for landowners to be aware of and adhere to any covenants affecting their property.
Caveats
A caveat is a cautionary legal notice registered on a property title that indicates a third party’s interest or claim on the property. A caveat serves as a warning to potential buyers or other parties that there may be an unresolved interest in the property.
Caveats are often used in situations where someone believes they have a right to the property, such as in a pending legal dispute or a claim against the property owner. A caveat needs to be carefully considered before being lodged as only a legitimate interest or claim can be registered.
How can Nevett Ford help?
Our Property and Conveyancing Team has extensive experience in easements, covenants and caveats and should you need any assistance or further information, please contact them us on 03 9614 7111 or by email at melbourne@nevettford.com.au.