LEASEHOLD TENURE

Evening Post, Volume CXI, Issue 105, 4 May 1926, Page 9

LEASEHOLD TENURE

CONVERSION TO FREEHOLD

LEGISLATION PROPOSED,

Tho leasehold versus freehold issue will bo' lief ore Parliament again in the course of the coming session, as it is proposed to introduce legislation giving certain leaseholders of Crown- lands the right to acquire tho freehold of their properties. As ono who has always been associated wi'ih rural land, the Minister of Lands (the Hon. A. D. M'Leod) declares that he has always. been a freeholder. . -Spoaldng-at "Westport recently, tho Minister said that .Parliament would be given an'opportunity during the next'session to. extend tho freehold tenure,: but no did not. intend to interfere with endowments set apart for special purposes. He had no intention of suggesting tho freehold for the many endowments iii' connection with colleges and other special educational mattors. ' The revenue in connection with these was handled by other Ministers, and unless they considerol that it would be tetter to dispose of the endowments, he did not propose to take action in that direction. Mr. M'Lepd said he had in his mind a lease with a perpetual right of renewal every 21-.years/ and reserving to. the lessee" ihe ■, full interest in his improvements. ~ He had always argued that endowments' should be in or near the towns,, and he did not think the country as a whole would agree to the disposal of the whole of such endowments; - There was no difficulty in valuing, bricks and mortar, but tho position •was totally, different with rural lands. A farmer could drain his swamp, lime and top-dress his, country at a cost of, say, £10 an aero, and havo a valuer come along and allow him £2 an acre for his-: improvements. He did not think-a lessee's assets should be lost to him, and in those cases where there was no compensation for improvements he proposed to have the matter looked into. In cases where survey was required those interested would have to bear the cost.