CROWN LANDS.

Auckland Star, Volume LVII, Issue 251, 22 October 1926, Page 8

CROWN LANDS.

EXTENDED PURCHASE FACILITIES. NEW AREA LIMITATION?. (By Telegraph.—Special to "Star.") WELLINGTON, this day. Changes in the land laws were made in the last session of Parliament, the most important being the widening of opportunities to Crown tenants to become freeholders. Regulatione have been approved by Governor-in-Council prescribing new conditions for applying for land on cash, deferred payment, or renewable lease.

The applicant in each case will be required to sign a sworn declaration, including the following clause: "That, including the area of the largest allotment now applied for, I am not the owner, holder, or occupier under any tenure of more than one year's duration, either severally or jointly, or in common with any other person or persons, of any land anywhere in New Zealand exceedingin the whole 5000 acres, computed ac follows: (a) Every acre of first-class land is reckoned as 7$ acres; (b) every acre of second-class land is-reckoned as 2J acres; (c) every acre of third-class land is reckoned as 1 acre." The purchase terms" are based on interest at 51 per cent plus one per cent sinking fund, payable in halfyearly instalments for 34$ years. Under this table in respect of every £100 of purchaee money each instalment is £3 5/. The first includes £2 15/ interest and 10/ repayment of principal, the latter a steadily increasing proportion, though it is not until the forty-fourth instalment that it balances the ■ . interest payment. . '- ~ : t -\ '