Castle Hill Run Ltd v NZI Finance Ltd - [1985] 2 NZLR 104

Property law — Caveat — Extension of caveat — Vendor in financial difficulties transferred land to mortgagee — Agreement provided that purchaser would, in its discretion, develop the land and would pay vendor any surplus raised on the sale of the properties — Six years after agreement, purchaser proposed to sell the balance of the undeveloped land to a third party — Vendor claimed that any unsold land should be reconveyed to it — Whether there was an arguable case that the vendor had a caveatable interest — Land Transfer Act 1952, ss 137 and 145.