Coltart v Lepionka & Co Investments Ltd - [2016] 3 NZLR 36

Property law — Mortgage — Mortgage acquired upon mortgagor’s default — Whether holder of option to purchase land had owner’s interest in equity of redemption — Whether mortgagee owed option holder duty to act in good faith — Whether mortgagee was in breach of duty of good faith — Whether mortgagee entitled to cancel option to purchase — “Equity of redemption” — “Person entitled to redeem” — “Redeem” — Property Law Act 2007, ss 4, 97, 176 and 178.

Property law — Caveat — Caveats lodged to protect interest under option to purchase land — Whether mortgagee’s cancellation of option valid — Whether caveats could be removed — Whether reasonably arguable case that caveats sustainable — Whether equitable interest could be protected by new caveats — Property Law Act 2007, ss 176 and 178.