A URA Caveat is a legal notice that is registered with the Urban Redevelopment Authority of Singapore (URA) in order to protect the interest of an individual or company in a property transaction. It is a way of giving notice to all parties that the property is subject to certain terms and conditions.
How Can a URA Caveat Help You?
A URA Caveat is a useful tool for protecting your interest in a property transaction. By registering a URA Caveat, you can prevent any changes to the title of the property without your prior knowledge or consent. This is especially important if you are buying or selling a property, as it ensures that any changes to the title are done only with your permission.
What is Covered by a URA Caveat?
A URA Caveat covers a range of transactions, including the transfer of title, change of ownership, mortgage, sale or lease, and any other contractual agreement related to the property. It also prevents any unauthorised changes to the title or ownership of the property, such as any unauthorized transfer, lease or mortgage.
What is Not Covered by a URA Caveat?
A URA Caveat does not cover any disputes between the parties involved in the transaction, such as any disputes over the terms of the agreement or any breach of contract. It also does not cover any changes to the title or ownership of the property that are not related to the transaction, such as changes made by court order or by a government agency.
How to Register a URA Caveat?
Registering a URA Caveat is a relatively straightforward process. You will first need to provide the URA with all the relevant information, such as the title and address of the property, the details of the parties involved in the transaction, and evidence of ownership. Once the information has been provided, the URA will register the Caveat and issue a Caveat Certificate. This certificate will serve as evidence that the Caveat has been registered and will provide protection to the owner of the property.
Conclusion
A URA Caveat is an important tool for protecting your interest in a property transaction. By registering a URA Caveat, you can ensure that any changes to the title or ownership of the property are done only with your permission. The process of registering a URA Caveat is relatively straightforward and the Caveat Certificate will provide evidence of the registered Caveat.