s 7A
In forceRequirement to pay conversion cost
Part 2Homes and home sites
Division 3Automatic conversion of residential leases to freehold land
Subdivision 2Process for automatic conversion of residential leases to freehold land
7A Requirement to pay conversion cost
(1)
If a deed of grant is issued subject to the chief executive’s charge, the registered owner of the land in the deed of grant must pay the conversion cost for the unconverted lease to the chief executive within the period stated in subsection (2).
(2)
The period (the payment period) is—
(a)
if the lessee of the unconverted lease died and the converting change of ownership was a transmission or transfer to a beneficiary in relation to the deceased lessee—the period provided for under section 7B; or
(b)
otherwise—2 years from the day the converting change of ownership is registered.
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