When going through a separation, it is important that you and your former spouse formalise a final property settlement and take the necessary steps to ensure that your financial ties to each other are cut. However, the process of negotiating and ideally reaching an agreement for a property settlement, making it binding and then implementing the agreement can often take some time.

A caveat is an application that any person with a legal interest in a property can lodge with Land Use Victoria. In family law, caveats have therefore historically been used by a party to a separation who has an interest in a real property, but to which they are not on title.