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The Pamphlet Collection of Sir Robert Stout: Volume 56

Auction Sales

Auction Sales.

The aggregate area allowed to be sold by auction, for the whole colony, in any one year, is 200,000 acres. Two to three months' notice is always given of any sale, and the minimum upset 'prices are fixed for town lands at £8; suburban lands, £2 10s.; and other lands, £1 5s. per acre. But a higher upset may be determined upon, and the value of any improvements be added thereto; and if the improvements were made in misapprehension, their value may be remitted to the improver. Twenty-five per cent, of the purchase-money must be paid at time of sale, and the balance within three months, or the deposit may be forfeited and the sale declared void. The maximum area which may be sold under the empowering section, is in the case of town lands, one-half acre; suburban, 20; and country lands, 640 acres.