First Home Owner Grant Act 2000

Subject to subsection (2), a relevant interest in land is —

an estate in fee simple in the land; or

a life estate, approved by the Commissioner, in the land; or

a strata lease of the land, as defined in the Strata Titles Act 1985 section 3(1);

a lease in perpetuity of the land granted by the Commonwealth or the State; or

a leasehold interest in the land granted by the Commonwealth or the State that may be converted under the terms of the lease or by statute into an estate in fee simple; or

an interest as purchaser under a contract for the purchase from the Commonwealth or the State of an estate in fee simple in the land by instalments; or

a licence or right of occupancy granted by the Commonwealth, the State or a local government that gives, in the Commissioner’s opinion, the licensee or the holder of the right reasonable security of tenure; or

an interest in a company’s shares if the Commissioner is satisfied that —

the interest entitles the holder of the interest to exclusive occupation of a specified home owned by the company; and

the value of the shares is not less than the value of the company’s interest in the home;

an interest prescribed by the regulations to be a relevant interest.

Subject to subsection (3) —

an equitable interest is not a relevant interest unless it is the interest of a person under a legal disability for whom a guardian holds the interest on trust.

Without limiting paragraph (h) of subsection (1), regulations referred to in that paragraph may prescribe an interest (a non‑conforming interest) to be a relevant interest —

even though the interest does not conform with subsection (2); and

even though the interest may not be recognised at law or in equity as an interest in land.

If a first home owner grant is authorised to be paid in consequence of a non‑conforming interest being prescribed as a relevant interest, the Commissioner may impose appropriate conditions on the payment of the grant to ensure its recovery if any criteria prescribed by the regulations about future conduct or events are not satisfied.