NEW LAND LAWS

Stratford Evening Post, Volume I, Issue 498, 21 July 1932, Page 6

NEW LAND LAWS

PURCHASE Of FARMS GOVERNMENT REGULATIONS FOR ADVANCES j ON PURCHASES j GENEROUS ASSISTANCE j Arrangements have been com. pleted by the Lands Department: j for the administration of the Land Laws Amendment Bill, which was passed by Parliament j last session* and which has as its principal objective the encour- j agement cf settlement by means cf granting facilities for the pur- j chase by intending settlers or j parts of freehold properties. Regulations under the Act were j published in the Gazette a few days ago. Applicants are warned by the Co.; vernment that the part of a property! selected for purchase must he of a nature to provide a living, and the residue remaining to the vendor' must be sufficient to provide him j with a living. Must Have Roads < The portion of a property to be i purchased must be on a formed ac i cess road, and if it is not the vend r and the applicant must make ar- ; rangements between themselves for I the ; provision of a road before the j completion of the purchase. A vendor must be prepared to give . a land transfer title for the portion to be sold. Upon receiving the application I from the prospective purchaser, the j Land Purchase Board ;wili decide ■ whether to arrange for inspection j and valuation of the property, and it j may require the applicant tic attend j for examination as to Ids experience and finance. The applicant may be j required to produce documentary j evidence as to his means in relation \ to the purchase of the property, its j general improvement and stocking. ; Help in Purchase An application must lie landless as defined by the Land Act, that is, he must net hold land which in the opinion of the Land Board is sufficient for the maintenance of himself and his family. I The Land Purchase Board is.

authorised to advance not more than f!0 per cent, of the purchase money.] It is stated that this is not an indication that the beard will advance! the full !)0 per cent, in any instance, j Applicants must be prepared to pay ■ in cash to the oomm|issioner of j Crown Lands the balance of the pur-j chase money upon completion of ar-1 rangements for purchase, or when f called upon to do so by the board, i , The applicant must not agree with j the vendor to pay any amount in ex- J | cess of the purchase money as rati-, tied by the beard, or to secure by promissory notes or other means, the payment of any excess amount. Should this be done, the beard will reject the application, and if an ad. t vance has been made the board may j call it up, together with interest. j All advances of purchase money will be secured by first mortgage, j and the mortgagors must reside con-' tinuouslv on the land. They must; not transfer without the consent of j the Minister of Lands. j No Fancy Values In a significant statement the de-J partment says that it, would save the : ime of. both parties and of the board [ if vendors would fix their purchase! prices at bedrock at the outset. Applications may be made to | the Land Development Board _ for loans for the erection of buildings, j clearing, draining, fencing, cultivation, grassing or general impr: yemen'ts. Each application must include a definite programme of work, j and this must be closely adhered to. No advance will be made for morel than SO per cent, of the estimated! value of the completed improvements! for which the loan is required. j Advances will also be made fori the purchase of stock and chattels I and in this instance no advance will j he more than 60 per cent, of the estimated value of the stock offered as i security for the advance..