LAND LAWS

Waipukurau Press, Volume XXX, Issue 274, 25 November 1935, Page 5

LAND LAWS

Adjustment of Mortgages

STATEMENT BY MINISTER

REVALUATION OF HOLDINGS

(Per Press Association) DANNEVIRKE, This Day

The Minister of Lands issued today the following statement in regard to the provisions of the Land Laws Amendment Act, 1935, and to the adjustment of Discharged Soldiers’ Settlement and State Advances (Mortgage Corporation) Mortgages. The Land Laws Amendment Act, 1935, provides that practically all Crown tenants on rural land now have the right to apply to the Commissioner of Crown Lands for their districts for revaluation of their holdings. Applications will be considered by special committees, each consisting of the Commissioner of Crown Lands, the district valuei, and a practical farmer, appointed by the Minister. Several committees are being appointed in each land district. Arrears of Rent and Interest. Consideration is also to be given to all cases where rural Crown tenants and returned soldier settlers are in arrears with their rent and interest payments. These will be disposed of by wav of remissions or postponements, according to the merits of individual cases. Soldier Settler Pensioners.' Special consideration will be given to the question of granting concessions to soldier settler pensions and to widows of soldier settlers, working their late husbands’ property. In both cases adequate allowance will be made for reasonable expenditure for labour costs and for medical and special treatment. Voluntary Adjustment. In furtherance of the policy of the Government to entourage voluntary adjustment of mortgages, arrangements have been made in cases where rural land is subject to Discharged Soldiers’ Settlement or State Advances (now Mortgage Corporation) mortgages, for mortgagors to apply’direct to the Commissioner of Crown Lands or to the manager of the Mortgage Corporation, respectively, for voluntary adjustment of their mortgages, thus removing the necessity for stay orders or budgetary control. Such applications will be considered by special committees which have been set up to deal with revaluations under the Land Act. Where private mortgagees are also involved, settlers may have recourse to the Mortgagors’ Final Adjustment Act.