The discretion under s 74MA of the Real Property Act 1900 (NSW) to order withdrawal of a caveat is not constrained by any requirement that the circumstances be 'unusual' or 'rare'. On an application for withdrawal of a caveat to enable refinancing, the court is not required to find that the orders will not derogate from the caveator's security position before considering the balance of convenience; the impact on the caveator's security is one factor in the overall balance of convenience assessment. The strength of the caveator's claim to the interest protected by the caveat is a material factor in assessing the balance of convenience.
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