Lands Tribunal definition
Examples of Lands Tribunal in a sentence
In these cases the Supplier will advise on all stages of the CPO process from inception through, public inquiry, possession and subsequent negotiation of property acquisition and compensation, if necessary by referral to the Lands Tribunal.
It will also include negotiation for the sale of land and settlement of compensation, if necessary by referral to the Lands Tribunal.
The Lands Tribunal determines the application by hearing the objection of the minority owners (if any) in respect of the value of any property assessed, or in the case where the minority owners cannot be found, requiring the Majority Owner to satisfy the Lands Tribunal that the value of the minority owner’s property is not less than fair and reasonable.
The Lands Tribunal must also be satisfied, among other things, that the development of the lot is justified and the Majority Owner has taken reasonable steps to acquire all the undivided shares in the lot including negotiating for the purchase of such of those shares as are owned by minority owners on terms that are fair and reasonable, before it makes the Sale Order.
The Ordinance provides, in summary, that the person or persons who own not less than 80% of the undivided shares in a lot (“Majority Owner”) may make an application to the Lands Tribunal, accompanied by a valuation report (prepared not earlier than 3 months before the date of the application), for an order to sell the undivided shares in the lot for redevelopment purposes (“Sale Order”).