New South Wales Consolidated Acts

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RESIDENTIAL (LAND LEASE) COMMUNITIES ACT 2013 - SECT 34B

Meaning of "voluntary sharing arrangement"

34B Meaning of "voluntary sharing arrangement"

A
"voluntary sharing arrangement" means the terms of a site agreement under which the home owner agrees to pay the operator of the community either or both of the following--

(a) site fees the payment of which is deferred as specified in the site agreement,
(b) if the home owner sells the home--either of the following amounts --
(i) a specified share of any capital gain for the home realised by the home owner (a
"capital share amount" ),
(ii) a portion of the total sale price of the home determined in the way specified in the agreement (an
"on-site premium" ).



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