THE FREEHOLD CONCESSION.
EXPLANATION BY THE MINISTER OF LANDS. Some members of the House and apparently one or two newspapers have misunderstood the terms on which the holders of leases-in-perpetuity of ordinary Crown lands are to secure the freehold. The Premier said that this option will be given at a price to be fixed by arbitration as on the d^te on which they give notice of intention to purchase." This has been interpreted in some quarters to mean that the arbitration would determine the internets of the State in the section and that the lessee would secure the freehold by pavincr this sum. The Mi imster informed a representative of the Lytte'ton Times'" this evening that this interpretation was a wrong one. The tenant would be required to nay to the State the present value of the holding less the value of his improvements. The tenants, in short, were to get the freehold at what is commonly called present valuation.
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https://paperspast.natlib.govt.nz/newspapers/TS19070718.2.14
Bibliographic details
Star (Christchurch), Issue 8984, 18 July 1907, Page 1
Word Count
160THE FREEHOLD CONCESSION. Star (Christchurch), Issue 8984, 18 July 1907, Page 1
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