The Pamphlet Collection of Sir Robert Stout: Volume 56
This is the second of the new forms of leasehold tenure referred to at the commencement of this paper, and is only applicable to the Western division. It is a description of holding eminently suited to the small grazier, a class of persons hitherto not provided for; the maximum area procurable being 10,240, and the minimum 5,760 acres. The term of lease is fifteen years, and there is a right of extension for a further period of five years. The area selected as a homestead leasehold must be within a resumed area or vacant lands. The deposit required to be lodged with the application is 1d. per acre, in anticipation of the appraisement, and payment is also required for any improvements upon the land. The conditional requirements are (1) the fencing of the outside boundaries of the leasehold within two years from entry thereon (which latter must be within ninety days from the notification of approval of the issue of lease in the Gazette), subject to a certain latitude, by consent of the Board, on cause shown; and (2) residence for at least six months during each of the first five years of the lease.
A pastoral lessee, during currency of the tenure, cannot himself, or by others, hold a homestead lease; and vice versa, a homestead lessee cannot become a pastoral lessee during the currency of his homestead lease; nor can more than one homestead lease be held by the same person, under penalty, in each case, of forfeiture of the whole of his leasehold interest, for which purpose every part owner of a lease is reckoned as a principal; but exception is made where the registered holder is so registered for his security as mortgagee of one, or more than one, of either or both. A homestead lease may be transferred after the fulfilment of the residence conditions.