18Exception to requirement not to hold interest in real estate

18  Exception to requirement not to hold interest in real estate

Exception—single parent buying out existing property

 (1) This section applies where an applicant for an arrangement:

 (a) is a single parent; and

 (b) holds a disqualifying property interest as a joint tenant or tenant in common in the relevant property; and

 (c) intends to become the sole registered owner of that property with the assistance of the arrangement.

Exception—simultaneous purchase of the property and sale of existing property

 (2) This section also applies where an applicant for an arrangement:

 (a) is a single parent; and

 (b) holds a disqualifying property interest; and

 (c) intends to cease to hold that interest within 4 weeks of the applicant becoming the registered owner of the property to be purchased with the assistance of the arrangement.