SUCCESSION ACT 1981 - SECT 34B Meaning of shared home and related definitions

SUCCESSION ACT 1981 - SECT 34B

34B Meaning of shared home and related definitions

(1) A
"shared home" means a building, or part of a building, designed to be used solely or principally as a separate residence for 1 family or person.

(2) A
"building" includes a caravan and a manufactured home.

(3) An
"interest" , in an intestate’s shared home, means—

(a) an interest registered or registrable under an Act that is or includes a shared home; or

(b) if the shared home is a caravan—an interest in the caravan; or

(c) if the shared home is a manufactured home—an interest in the manufactured home and any interest in a site agreement for the site on which the manufactured home is positioned.

(4) The
"transfer value" , of an intestate’s interest in a shared home, means the market value of the interest at the date of the intestate’s death, less the amount (if any) needed to discharge any mortgage, charge, encumbrance or lien to which the interest may be subject at the time of transfer.

(5) In this section—


"caravan" see the Residential Tenancies and Rooming Accommodation Act 2008 , section 7 .


"manufactured home" see the Manufactured Homes (Residential Parks) Act 2003 , section 10 .


"site" see the Manufactured Homes (Residential Parks) Act 2003 , section 13 .


"site agreement" see the Manufactured Homes (Residential Parks) Act 2003 , section 14 .