The Pamphlet Collection of Sir Robert Stout: Volume 62
Applications should be made in precisely similar manner to those for cash or deferred payment, on forms provided at the land offices. Two-and-a-half per cent, of the value of the land, to represent the first half-year's rent, together with £1 10s. license-fee, must accompany the application if for surveyed land, and the survey-fee if for uusurveyed land. This latter e goes towards reducing the price of the land on which the rent is assessed. This is the tenure on which the greatest amount of land is being taken up. It is undoubtedly the most suitable tenure for the settler with small means, as under this system the entire capital of the selector remains intact for improvements and stocking.
The main features of this system of leasing Crown lands are as follows:—
By securing to lessees the value of their improvements on page 28 an indefeasible title, with perpetual rights of renewal, they have all the security and permanence of freehold tenure, without requiring to sink any capital in the purchase of the land.
Any person of the age of seventeen years or upwards may become a lessee.
The annual rent is by law 5 per cent, on the capital value of the land; thus, land valued at £1 per acre would be leased at a rental of is. per acre per annum. Six months rent, together with the sum of £1 10s. for the lease, is required to be deposited with every application.
If a lease is not executed within thirty days from the day of the acceptance of the application, or within fifteen days of the date on which it may be ready for execution, the deposits made with the application shall be forfeited.