Caveat Mortgages
Definition "Caveat Mortgages"
Caveat, the third-person singular present subjunctive of the Latin cavere, means "warning" (or more literally, "let him beware"); it can be shorthand for Latin phrases such as:
Caveat lector, "let the reader beware"
Caveat emptor, "let the buyer beware"
Caveat venditor, "let the seller beware"
A "Caveat Mortgage" is an unregistered mortgage whose existence the lender has alerted the world to by lodging a caveat against the title to the security property.
Registerding a caveat does not create a charge on the land. All a caveat does is put the world on notice that the lender claims he has an unregistered mortgage over the land.The unregister mortgage can however be ineffective for a multitude of reasons, and secure nothing.
In Summary:
Unregistered mortgage = Equitable mortgage
Unregistered mortgage + Caveat = Caveat mortgage
Equitable mortgage + Caveat = Caveat mortgage