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Cautions against conversion

21G. Registration of caution against conversion

(1) Subject to subsection (2), a person who claims to have any title to land, or a beneficial interest in any land, may make an application in the specified form to the Land Registrar to register a caution against conversion against the land.

(2) No application may be made under subsection (1) on or after the 12th anniversary of the appointed day as defined by section 2(1) of the Land Titles Ordinance (26 of 2004).

21H. Effect of registration of caution against conversion

(1) Land against which a registered caution against conversion subsists shall not become registered land under the Land Titles Ordinance (26 of 2004).

(2) The registration of a caution against conversion against land shall constitute notice of the claim which is the subject of the caution against conversion to all persons.

(3) For the avoidance of doubt, it is hereby declared that the registration of a caution against conversion shall not—

(a) of itself affect the validity or otherwise of the claim which is the subject of the caution against conversion;

(b) of itself create or validate any rights or interests, or adversely affect any rights or interests, of the cautioner; or

(c) without prejudice to the generality of paragraph (a), constitute a warranty, or a guarantee, as to the validity of the claim.

(4) The registration of a caution against conversion does not prejudice the priority of the claim which is the subject of the caution against conversion.

21I. Relationship between caution against conversion and registered instrument

The question of whether a registered instrument is subject to an interest claimed under a caution against conversion shall be determined in accordance with the law in force at the time when the transaction which is the subject of the registered instrument was effected.

21J. Validity of registration of caution against conversion

(1) Subject to subsections (2), (3), (4), (5) and (6) and section 21K, the registration of a caution against conversion shall expire immediately upon the commencement of the 1st anniversary of its date of registration.

(2) Subject to subsection (3), the cautioner under a registered caution against conversion may from time to time apply by originating summons to the Court of First Instance for the extension of the validity of registration of the caution against conversion and the Court of First Instance may make such order on the originating summons and as to costs as to the Court of First Instance appears just.

(3) An application for time extension under subsection (2) must be made—

(a) before the expiration of the validity of registration of a registered caution against conversion; or

(b) if the application is made within an extension granted under that subsection, before the expiration of such extension.

(4) Subject to subsection (5), the Court of First Instance shall not grant any extension of time under subsection (2) which would extend the validity of the registration of a caution against conversion beyond the date of the 2nd anniversary of the caution against conversion’s first date of registration.