240E
In forceSale by lessee
Chapter 5Matters affecting land holdings
Part 4Forfeiture
Division 3ASale of lease instead of forfeiture
Subdivision 1Sale by lessee
240E Sale by lessee
(1)
After receiving a notice under section 235(1) or 238(3), a lessee of a lease may apply, in writing, to the chief executive for permission to sell the lease.
(2)
If the chief executive approves the sale of the lease by the lessee, the chief executive must give notice of the chief executive’s approval to any mortgagee and any relevant local government.
This Act’s bill:Explanatory memorandum
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