Queensland Consolidated Acts

LAND ACT 1994 - SECT 493

493 Automatic issue of new tenure under this Act

(1) A conditional deed becomes a deed of grant in trust under this Act for the same public purpose for which it was granted, with the local government as trustee, if within 5 years of the commencement—

(a) the local government does not apply to exchange the conditional deed; or

(b) an application by the local government has been refused and no other application has been made.

(2) If the land contained in a conditional deed was subject to a lease, the lease becomes a trustee lease on the terms originally granted.

(3) A deed of grant in trust mentioned in subsection (1) is subject to all the encumbrances to which the conditional deed was subject and in the same priorities.