11Criterion 4—Applicant (or applicant’s spouse) must not have had relevant interest in residential property

11 Criterion 4—Applicant (or applicant’s spouse) must not have had relevant interest in residential property

11 Criterion 4—Applicant (or applicant’s spouse) must not have had relevant interest in residential property

(1) An applicant for a first home owner grant is ineligible for the grant if the applicant or the applicant’s spouse has, before 1 July 2000, held—

(a) a relevant interest in residential property in New South Wales, or

(b) an interest in residential property in another State or a Territory that is a relevant interest under the corresponding law of that State or Territory.

(2) In working out for the purposes of subsection (1) whether an applicant held a relevant interest (within the meaning of this Act or a corresponding law) in residential property at a particular time, any deferment of the applicant’s right of occupation (because the property was subject to a lease) is to be disregarded.

(3) An applicant is also ineligible if the applicant or the applicant’s spouse has, at any time before the commencement date of the eligible transaction to which the application relates—

(a) held a relevant interest in residential property in New South Wales or an interest in residential property in another State or a Territory that is a relevant interest under the corresponding law of that State or Territory, and

(b) occupied the property as a place of residence for a continuous period of at least 6 months.

s 11: Am 2003 No 80, Sch 3 [4]; 2005 No 111, Sch 2 [4].