Sub-division and Leasing.

The land must be suitably subdivided into sections, according to the nature of the lease. Tenders are called and a lease arranged if a tender of sufficient value is received; if not, attempts are made to dispose of the lease by private treaty to interested parties. The work of preparing the deeds, setting out the rights and liabilities of the lessee, and fully protecting the Department's interests devolves on the Land Office. The area and dimensions of all leases granted are plotted on the lease plans, of which a complete set is kept in addition to the land plans, i.e., those defining boundaries and showing title references to all lands held by the Department.

In addition to the leasing of Railway land there are innumerable privileges granted by deed, such as rights-of-way, rights to lay pipes, rights to take water, etc. These are also prepared in the Land Office and entered on the lease plans. Some idea of the magnitude of this work may be gleaned from the fact that there are at present over 7,500 current grants of privileges and leases of Railway land yielding a total rent of approximately £60,000 per annum. The growth of the work is shown by comparison with the figures for the year 1904, when there were 2,000 leases and grants at an annual rent of £24,000.

Leasehold interests, like all interests in land, are in many cases of great value, and become the subject of complicated dealings, such as those by way of mortgage, sublease or assignment.