sec.18Disclosure of acquisition

sec.18 Disclosure of acquisition

A foreign person who acquires the legal estate of an interest in land must complete and lodge with the registrar a notification of ownership in relation to the interest not later than 90 days after the day of the acquisition. However, a foreign person is not required to comply with subsection (1) if the legal estate of the interest in land is vested in the person as personal representative of a deceased person. Also, a person beneficially entitled to an interest in land because of the death of a person is not required to comply with subsection (1) until all documents resulting in the interest vesting in the person have been lodged with the relevant registering authority. s 18 amd 1989 No. 3 s 12 ; 1990 No. 106 s 5 sub 2019 No. 7 s 163 (sec.18-ssec.1) A foreign person who acquires the legal estate of an interest in land must complete and lodge with the registrar a notification of ownership in relation to the interest not later than 90 days after the day of the acquisition. (sec.18-ssec.2) However, a foreign person is not required to comply with subsection (1) if the legal estate of the interest in land is vested in the person as personal representative of a deceased person. (sec.18-ssec.3) Also, a person beneficially entitled to an interest in land because of the death of a person is not required to comply with subsection (1) until all documents resulting in the interest vesting in the person have been lodged with the relevant registering authority.