Alienation by Auction.
Town lands are sold only by auction, the upset price being fixed by the Crown
Lands Commissioner, according to their position and supposed value.
Agricultural lands may also be sold by auction in lots of not less than 320 acres each.
The upset price is fixed according to the nature and quality of the soil, but must be in no case less than £1 per acre.
Pastoral lands embrace all lands not included in the foregoing classes. They are
disposed of by auction, the lowest upset price being a sum equal to twelve years' rental, provided such price is not less than 5s. per acre.
In the case of lands of all classes sold by auction, the cost of survey and of the grant
Cost of survey and Crown grant.
deed is added to the upset price.
With the exception of town lands situated within five miles of the city of Hobart
or town of Launceston, all Crown lands which have been offered at auction, and not sold, may be taken up at the upset price. Such lands may be paid for in cash or on credit. If the former, one-fifth of the price must be paid at the time of sale, and the residue within one month. If on credit, a sum equal to one-third of the purchase money is added for the allowance of credit, and the purchaser pays one-eighth of the whole amount at the time of sale, and the residue in thirteen equal annual instalments.