Criteria for issue of certificate of entitlement: joint ownership
17A Criteria for issue of certificate of entitlement: joint ownership
The Secretary must not issue a certificate of entitlement under this Part to an applicant if the applicant’s interest or right is in the form of a joint tenancy, unless the Secretary is satisfied that:
the application was made by a person and his or her spouse or de facto partner who, under subsection 4A(1), are treated together as an eligible person for the purposes of this Act; or
the only other joint tenant is the applicant’s spouse or de facto partner, who is also an eligible person.
The Secretary must not issue a certificate of entitlement under this Part to an applicant if the applicant’s interest or right is in the form of a tenancy in common, unless the Secretary is satisfied that the interest or right, at the time when the application was lodged, would have had a value, if it were unencumbered, of not less than the sum of:
all advances in relation to the applicant, in respect of which subsidy is payable; and
the advance to which the certificate would relate.
In this section:
interest or right, in relation to an applicant, means the applicant’s interest or proposed interest concerned in respect of a holding, or the applicant’s right or proposed right of residence concerned in respect of a retirement village (as the case requires).
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