RUSH OF LAND SALES

Dominion, Volume 37, Issue 18, 16 October 1943, Page 4

RUSH OF LAND SALES

Busy Days In Stamp Duties Offices AVOIDING OPERATION OF ACT Ever since the Servicemen's Settlement and Land Sales Act was passed land transactions in anticipation of the Act coming into operation on October 18 have been increasing. The climax of tins rush has now been reached. A Press Association message from Auckland states that there was a record rush at the stamp office there on Thursday, 900 documents being stamped. Figures for M ellinglon are not available, but yesterday .was a very busy day in the Stamp Duties Otlice and the work done was probably of record volume. There have been some large transactions, and the total value of transfers on one of the last few days lias probably been equal to the total for several weeks in normal times. Documents can be stamped for a month after the sale without penalty, so the otlice will remain busy for a while yet. A solicitor rqjiarked that a. great deal of property hail been offered in the last few weeks, vendors reducing their prices in their anxiety to sell. It was only necessary for the contract for the sale of the property to be signed before the 18th for the transaction to be excluded from the operation of the Act. The rush had come at a time when law otlice staffs were short. He expected that after the Act came into force there would be a lull in sales till the public came to understand the effect of the Act.