Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) A person is an owner of a home or a home owner if the person has a relevant interest in land on which a home is built.
(2) Each of the following is, subject to subsection (3), a relevant interest in land:
(a) an estate in fee simple in the land;
(b) a life estate in the land approved by the Commissioner;
(c) a perpetual lease of the land granted by the Commonwealth or the Territory;
(d) a leasehold interest in the land granted by the Commonwealth or the Territory that may be converted under the terms of the lease or by statute into an estate in fee simple;
(e) an interest as purchaser under a contract for the purchase of an estate in fee simple in the land by instalments;
(f) a licence or right of occupancy granted by the Commonwealth or the Territory that gives, in the Commissioner's opinion, the licensee or the holder of the right reasonable security of tenure;
(g) an interest as lessee or sublessee of the land under a long-term registered lease granted by the Commonwealth or the Territory where the term of the lease is 15 years or more;
(h) an interest as lessee or sublessee of the land under a registered lease or sublease granted under section 19 or 19A of the Aboriginal Land Rights (Northern Territory) Act 1976 (Cth) if the term of the lease is 15 years or more.
(3) Subject to subsection (4):
(a) an interest is not a relevant interest at a particular time unless the holder of the interest has, or will have within 12 months after that time (or a longer period allowed by the Commissioner), a right to immediate occupation of the land; and
(b) an interest is not a relevant interest in the hands of a person who holds it subject to a trust; and
(c) an equitable interest is not a relevant interest unless it is the interest of a person under a legal disability for whom a guardian holds the interest in trust; and
(d) an interest is not a relevant interest if the holder of the interest is the lessor or sublessor under a lease or sublease mentioned in section 5(2).
(4) The Regulations may provide for recognition of an interest ( a non-conforming interest ) as a relevant interest:
(a) even though the interest may not conform with the above provisions; and
(b) even though the interest may not be recognised at law or in equity as an interest in land.
(5) If a first home owner grant is to be paid in consequence of the recognition of a non-conforming interest as a relevant interest, the Commissioner may impose appropriate conditions on the payment of the grant to ensure its recovery if criteria prescribed in the Regulations about future conduct or events are not satisfied.