157
In forceExpiry of lease
Chapter 4Land holdings
Part 3Leases
Division 2Expiry, renewal and extension
Subdivision 1Expiry
157 Expiry of lease
(1)
A lessee’s right to possession of lease land ends on the day the lease expires, but does not end if the lease is renewed before it expires or its term is extended.
(2)
Subject to subdivision 1AA and chapter 5, part 5 and the conditions of a lease, the improvements on the lease become the property of the State when the lease expires.
Note—Chapter 5, part 5 is about payments that may be made to outgoing lessees for improvements on a lease.
This Act’s bill:Explanatory memorandum
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