139
In forceImprovements to be bought by incoming lessee or buyer
Chapter 4Land holdings
Part 1Making land available
Division 4Miscellaneous
139 Improvements to be bought by incoming lessee or buyer
(1)
If there are improvements, the property of the State or a previous lessee, on land to be leased or bought under this Act, the value of the improvements must be stated in the offer or in the sale notice.
(2)
The value of the improvements is the value on the day the offer was made or the sale notice was published.
(3)
The value of the improvements may be—
(a)
not negotiable; or
(b)
negotiable (the provisional value).
(4)
The incoming buyer or lessee must pay the State the value of improvements within the time stated in the offer or the sale notice, whether or not a provisional value is to be negotiated.
This Act’s bill:Explanatory memorandum
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