New South Wales Consolidated Acts New South Wales Consolidated Acts(cf Act No 7, 1912, s 41)
(1) The Minister may compulsorily acquire in accordance with the Land Acquisition (Just Terms Compensation) Act 1991 land on which a house has been erected by the Corporation for a purchaser if the purchaser does not execute a form of purchase agreement or mortgage approved by the Corporation on being required in writing by the Corporation to do so.
(2) The Minister may compulsorily acquire in accordance with the Land Acquisition (Just Terms Compensation) Act 1991 land on which a house has been erected by a person to whom an advance has been made under this Act for the erection of the house if the person does not execute a form of mortgage approved by the Corporation on being required in writing by the Corporation to do so.
(3) The compensation to be assessed for the purposes of this section is only in respect of the interest of the purchaser or person to whom the advance was made, and any increased value to the land due to the expenditure of the Corporation, or of the advance made by it, is to be disregarded.