Criterion 4—Applicant (or applicant’s partner) must not have had relevant interest in residential property
11 Criterion 4—Applicant (or applicant’s partner) must not have had relevant interest in residential property
An applicant is ineligible if the applicant or the applicant’s partner has, before 1 July 2000, held—
a relevant interest in residential property in the ACT; or
an interest in residential property in a State that is a relevant interest under the corresponding law of the State.
In working out for section (1) whether an applicant held a relevant interest (within the meaning of this Act or a corresponding law) in residential property at a particular time, any deferment of the applicant’s right of occupation (because the property was subject to a lease) is to be disregarded.
An applicant is also ineligible if, before the commencement date of the eligible transaction to which the application relates, the applicant or the applicant’s partner—
held a relevant interest in residential property in the ACT or an interest in residential property in a State that is a relevant interest under the corresponding law of the State; and
occupied the property as a place of residence.
However, for subsection (3), the applicant or the applicant’s partner is taken not to have used the property as the residence of the applicant or the applicant’s partner if—
the property was the subject of an earlier application under this Act by the applicant; and
a first home owner grant was paid under the earlier application; and
the applicant repaid the grant because of a failure to comply with section 12 in relation to the earlier application.
In this section:
residential property—land in Australia is residential property at a particular time if there is, at that time, a building on the land lawfully occupied as a place of residence or suitable for occupation as a place of residence.
This Act’s bill:Explanatory statementSecond reading speech
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