sec.501Replacement miners homestead documents

### sec.501 Replacement miners homestead documents This section applies to miners homesteads that become leases under section 499 (1) . As soon as practicable after the commencement, the chief executive must issue a new lease document to replace each existing miners homestead document. The new lease is subject to all the encumbrances to which the existing miners homestead was subject and in the same priorities. When the new lease is issued, the replaced document is no longer valid. The new lease must be sent to the person who is entitled to possession of the document being replaced. The replaced document must be returned to the chief executive for cancellation when the new lease is issued. A lessee may ask for the return of the replaced document suitably marked as cancelled. (sec.501-ssec.1) This section applies to miners homesteads that become leases under section 499 (1) . (sec.501-ssec.2) As soon as practicable after the commencement, the chief executive must issue a new lease document to replace each existing miners homestead document. (sec.501-ssec.3) The new lease is subject to all the encumbrances to which the existing miners homestead was subject and in the same priorities. (sec.501-ssec.4) When the new lease is issued, the replaced document is no longer valid. (sec.501-ssec.5) The new lease must be sent to the person who is entitled to possession of the document being replaced. (sec.501-ssec.6) The replaced document must be returned to the chief executive for cancellation when the new lease is issued. (sec.501-ssec.7) A lessee may ask for the return of the replaced document suitably marked as cancelled.