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The Pamphlet Collection of Sir Robert Stout: Volume 71

Deposit Money

Deposit Money.

The applicant for land under any tenure is required to lodge a small deposit with his application, which is re-turned if he is unsuccessful.

If the application is to purchase for cash, the deposit will be one-fifth of the purchase-money.

If for occupation with the right of purchase, £2 10s. per cent. on the cash value; and,

If for lease in perpetuity, £2 per cent. on the cash value.

Thus, for a section of 200 acres of first-class land, valued at £1 per acre, the required deposit would be: For cash, £40; for occupation, £5; for lease, £4. These amounts are put to the credit of the applicant if he is successful. If the purchase is for cash, the balance of the purchase-money must be paid within thirty days or the deposit will be forfeited. If under any other tenure, the amount of deposit, being equal to the first half-year's rent, will be credited accordingly.