A person may buy out another person's interest in forfeited property

In force

The Administrator must cause an interest in property to be transferred to a person if—

(a)

the property is forfeited to the Crown under section 74; and

(b)

the interest is required to be transferred to the person under this

Division; and

(c)

the person's interest in the property, immediately before the forfeiture, was not the only interest in the property; and

(d)

the person gives written notice to each other person who had an interest in the property immediately before the forfeiture that—

(i)

the person intends to purchase the other interest from the Crown;

and

(ii)

the other person may, within 21 days after receiving the notice, lodge a written objection to the purchase of the interest with the

Administrator; and

(e)

no person served with notice under paragraph (d) in relation to the interest lodges a written objection under that paragraph; and

(f)

the purchaser pays to the Crown, while the interest is still vested in the Crown, an amount equal to the value of the interest.

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