First Home Owner Grant and Shared Equity Act 2000
13Eligible transactions
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13 Eligible transactions
13 Eligible transactions
(1) An eligible transaction is—
(a) a contract made on or after 1 October 2012 for the purchase of a new home in New South Wales, or
(b) a comprehensive home building contract made on or after 1 October 2012 by the owner of land in New South Wales, or by a person who will on completion of the contract be the owner of land in New South Wales, to have a new home built on the land, or
(c) the building of a new home in New South Wales by an owner builder if the building work commences on or after 1 October 2012.
(2) A contract is a contract for the purchase of a home if the contract is a contract for the acquisition of a relevant interest in land on which a home is or is to be built under the contract by or on behalf of the vendor.
(3) However, a contract made on or after 1 July 2000 is not an eligible transaction if—
(a) in the case of a contract for the purchase of a home—the purchaser had an option to purchase the home granted before that date or the vendor had an option to require the purchaser to purchase the home granted before that date, or
(b) in the case of a comprehensive home building contract—either party had a right or option granted before that date to require the other party to enter into the contract.
(3A) A contract made on or after 1 October 2012 is not an eligible transaction if the Chief Commissioner is satisfied that—
(a) the contract replaces a contract made before 1 October 2012, and
(b) the replaced contract was a contract for the purchase of the same home or a comprehensive home building contract to build the same or a substantially similar home.
Note.
See also Part 11 of Schedule 1.
(4) The commencement date of an eligible transaction is—
(a) in the case of a contract—the date when the contract is made, or
(b) in the case of the building of a home by an owner builder—
(i) the date when laying the foundations for the home commences, or
(ii) another date the Chief Commissioner considers appropriate in the circumstances of the case.