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Caveat to cease unless extended.
Power to a judge to extend the operation of a caveat, on the cautioner giving security to indemnify persons damaged thereby.
Compensation for caveat lodged without cause.
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47. After the expiration of such period the caveat shall cease, and the officer shall cancel any note thereof on the record, unless a fiat continuing it be made by a judge; and upon the caveat so ceasing the land, lease, or charge shall be dealt with in the same manner as if no caveat had been lodged. If before the expiration of the said period the cautioner or his solicitor appears before a judge, and gives such undertaking or security, or lodges such sum in Court, as such judge may consider sufficient to indemnify every person against any damage that may be sustained by reason of any disposition of the property being delayed, then and in such case such judge may direct the officer to delay recording any dealing with the land, lease, or charge for a further period, to be specified in such order, or make such other order as may be just. If any caveat be lodged without reasonable cause, such judge may order payment by the cautioner of such sum by way of compensation or costs as he may deem just.
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