A caveat is a warning of a specific limitation of something such as information or an agreement. Once a caveat has been put on a house by someone through the Court of Law, the owner cannot sell, donate or the dispose the house in any other way without obtaining the consent of the Court.
Caveat On Property
caveat is a means by which a Certificate of Title at the Land Titles Office can be "tagged" to show that someone has an interest in the property.
A caveat prevents the Registrar Of Titles from registering another interest against the title without first giving notice to the person who lodged the caveat.
Generally speaking, once a caveat has been lodged against a property, nothing else can be lodged against the property without the consent of the person who lodged the caveat.
A common use of the caveat is to prevent a Vendor from selling a property to another Purchaser. The first Purchaser lodges a caveat to protect his/her interest in the property between the sale and settlement.
Caveats are removed by way of a Withdrawal of Caveat, signed by the caveator (the person who lodged the caveat), and registered at the Land Titles Office.
In New Zealand, It usually means it is a security against the property for money owing or security for an account such as a trading account. If house is sold those who hold the caveat must be paid imediatly after mortage interests are paid.
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A Cavaeat is a clause, usually a disclaimer. It would depend on exactly how it is worded as to what it means, but basically it usually is that their are no implied warranties on anything that is not specifically indicated - you are basically getting it "as is" and have no recourse unless the seller/landlord fraudulently represented something to be something that was not true (ex: said the water heater was 1 yr old and turns out the model hasn't been made in over 10 years).
There's a buyer interested or perhaps confirmed decision to purchase.