Post by Kiwi Frontline on Jul 2, 2023 5:22:46 GMT 12
‘WE HAVEN’T FORGOTTEN’: MĀORI LANDOWNERS CONTINUE FIGHT AGAINST PERPETUAL LEASES
But because of a government clerical error which occurred sometime in the 1920s, the land was incorrectly issued under the Public Bodies Leases Act 1908, with a strict set of conditions imposed.
That includes a fixed rent of 5 percent of the unimproved value of rural land (or 4 percent for urban land) for 21 years at a time. The real dagger is that the leases are set for 999 years, and are perpetually renewable.....
www.rnz.co.nz/news/te-manu-korihi/492963/we-haven-t-forgotten-maori-landowners-continue-fight-against-perpetual-leases
But because of a government clerical error which occurred sometime in the 1920s, the land was incorrectly issued under the Public Bodies Leases Act 1908, with a strict set of conditions imposed.
That includes a fixed rent of 5 percent of the unimproved value of rural land (or 4 percent for urban land) for 21 years at a time. The real dagger is that the leases are set for 999 years, and are perpetually renewable.....
www.rnz.co.nz/news/te-manu-korihi/492963/we-haven-t-forgotten-maori-landowners-continue-fight-against-perpetual-leases