LEASES-IN-PERPETUITY.
The New Zealand Times, in a recent iesue, argued that there iras no gen-
oral demand for the freehold in Now Zealand, because certain. Crown ton- | ante at Ohakea, near Bulls, were satisfied with their leases. Does our contemporary wish to know why the Okakea tenanits are satisfied ? They took up their leases ten or fifteen years ago at about 13s per acre. Land ha<s increased so rapidly in value thate their goodwill is .now worth over £3O per acre. Seeing that they are absolved from tho land tax > they naturally prefer the lease to the freehold. But when they want t<o dispose of I their interests if flhey ever should do so, they will require the freehold. Only recently one of the Ohakea settlers desired to buy out the interest of his partner. He had the utmost difficulty in raiding the money, and when he did obtain it he hid to pay 6 per cent, while his freehold neighbours could readily got advances at 5 per cent. That i-s whore the difference comes in.
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Wairarapa Age, Volume XXXII, Issue 10703, 26 August 1912, Page 4
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176LEASES-IN-PERPETUITY. Wairarapa Age, Volume XXXII, Issue 10703, 26 August 1912, Page 4
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