Use of valuation methodology for social housing dwelling
62 Use of valuation methodology for social housing dwelling
This section applies if—
a social housing dwelling is located on the lease land for a 1985 Act granted lease, a new Act granted lease or a proposed new Act granted lease; and
the owner of the dwelling is—
the State; or
the trustee of the trust area, or the part of the trust area, where the dwelling is located; or
if the lease land is also the subject of a townsite lease under ALA or TSILA—the lessee under the townsite lease.
The owner of the dwelling may transfer the dwelling to a person who is or is to become the lessee under the lease.
The value of the dwelling for the transfer is—
if in the trust area there is in operation a valuation methodology agreed under ALA, section 128(2) or TSILA, section 93(2)—the value decided by using the methodology; or
otherwise—the value decided by using the valuation methodology decided by the housing chief executive.
Subsection (3) does not apply if the value is decided by the Land Court in deciding an application for—
a contested deferred grant; or
an agreed boundary relocation; or
a contested boundary relocation.
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