I received this following recommendation from my conveyancor.
"We strongly recommend registering a Caveat over the original title as it records your claim on title, it notifies those searching the title of your interest, and it prevents subsequent dealings by a third party with the title (if any) until you receive notification and have the opportunity to object (if necessary).
In our conveyancing opinion and experience, a Caveat is of utmost importance in protecting your claim over the property. Until your name is physically registered on the Title as the legal proprietor of the land, which can take upto three months after you have paid the vendor for the property, you are in a vulnerable position and at risk of a third party claiming an interest in the Vendor's Title, which may jeopardize your ownership of the property."
I'm new to this land buying thing and so would like to hear opinion from you guys and whether you did indeed register a caveat when you purchased your property. Btw, I was advised the cost to register a caveat would be $129.