LAND LAWS AMENDMENT

Waipa Post, Volume 32, Issue 1927, 28 October 1926, Page 4

LAND LAWS AMENDMENT

SOME OF THE CHANGES. ' V - Changes in ttot? land .laws wefie made last session, the most important being the 'widening of opportunities' to Crown tenant's Ito be’come •fr'toholdeti's (•states (the Wellington cor.rtas'pondent cif th)=l 'Lyttelton Times) . Regulations have 'been approved by the Governor-Oeiieral-in-Council prescribing new conditions for applying -for land on cash, deterred payment; or .renewable leasia The applicant in each case wMI toe required to sign a sworn declaration, including the following clause: “That, including the area off the largest allotment now applied 1 tor, I am not the ewn|3ir, holder, or occupier under any tenure of more than one year’s duration, eitto'cfr 'severally or jointly or in common with any other person of .persons, of any land, anywhere in New Zealand 'Exceeding in the whole 5000 acres, Computed as follows (a) every acre of first-class land is reckoned ag. 7| acres; (b) every acre of second-clasps land is beckoned as 2| acres; arid (c) every acre of third-class land is reckoned as one acre.” Purchase terms are based «n interest’ at oh per'cent plug 1 pkr cent sinking fund, payable in half-yearly instalments, for 341 ytearS. Under this table in respect of jbjvrify £IOO purchase money 'elach is £3 ss. Th(al first includes £2 Tss inteTeslt and 10g .repayment of ji'rinci'pal. The latter is a steadily-increasing proportion, though flo is not until the torty-ffourtli instalment thalt it 'balances the interes payment. '■