57ALand sold initially to financial institution and natural person and then leased to natural person

57A Land sold initially to financial institution and natural person and then leased to natural person (a) an estate in fee simple in land is transferred from a third party to the financial institution and the natural person as co-owners (***the first transaction***); and (b) at the same time as the first transaction, the financial institution leases its interest in the land to the natural person for a fixed term; and (c) at the end of the fixed term referred to in paragraph (b), or some other term agreed by the parties, the financial institution transfers its interest in the land to the natural person (***the second transaction***). (2) No duty is chargeable under this Chapter in respect of the second transaction. S. 57B inserted by No. 71/2004 s. 17.