Under the Land Title Act 1994 (Qld), a caveat does not automatically lapse when proceedings commenced to establish the caveatable interest are struck out; the caveatee's remedy is to apply under s 127 for removal. A clause in a credit agreement by which a customer 'agrees to charge all their equitable interest in freehold or leasehold property' creates an equitable charge applying the doctrine in Walsh v Lonsdale, without the need for execution of a memorandum of mortgage. The dissent (McMurdo P) would have held that the legislative scheme requires removal of a caveat where no proceeding is on foot to establish the caveatable interest.
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