(2) A
"new home purchase" is an agreement for the sale or transfer, or a transfer,
of land in New South Wales that is the site of a new home that is complete and
ready for occupation.
(3) An
"off the plan purchase" is an agreement for the sale or transfer of land in
New South Wales that is intended to be used as the site of a new home, which
is to be built before completion of the agreement.
(4) A
"vacant land purchase" is an agreement for the sale or transfer, or a
transfer, of vacant land in New South Wales that is intended to be used as the
site of a new home and which is not an off the plan purchase.
(5) The
agreement or transfer must be for the whole of the land or, if the land is a
parcel of land on which 2 or more homes are built, or are being built, for
that part of the land that is an exclusive occupancy.
(6) Land is an
exclusive occupancy only if the Chief Commissioner is satisfied that the
person acquiring the land will be entitled to occupy a home that is built, or
being built, on the land as a place of residence to the exclusion of other
persons who occupy or are to occupy the other home or homes built or being
built on the parcel of land.