246G
In forceFormer owner may recover proceeds of sale as debt
Chapter 4Additional foreign acquirer duty
Part 6Charge for unpaid transfer duty
246G Former owner may recover proceeds of sale as debt
(1)
The amount equal to the proceeds of the sale of land under the order to sell less an amount paid under section 246E(d) is a debt payable to the former owner of the land by the persons liable to pay the outstanding liability for which the order was made.
(2)
The former owner may recover the debt in a court of competent jurisdiction.
(3)
In this section—former owner, of land sold under the order to sell, means the person who owned the land immediately before its sale.
This Act’s bill:Explanatory memorandum
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