S.L. 573.18 Art. 8TypeAredemption -Conditions applicable to applicationsofsole and ordinary residence of the applicant. 4 [S.L.      S.L. 573.17.           S.L. 573.17.         S.L. 573.15.  S.L. 573.15. 5

(1) If the applicant is a natural person who proves to the satisfaction of the Authority that the property in question shall be used as a sole and ordinary residence, the redemption shall be effected according to the provisions of Schedule I.

(2) A property shall be considered to be the sole and ordinary residence of the applicant principally if the applicant declares under oath that he has been residing in the property referred to in the application, for not less than three (3) years prior to the date on which the application for redemption is submitted and that no other property has been redeemed under a Type A redemption during the preceding five (5) years. The Authority may request any additional documents SCHEME AND SUBSEQUENT FULL OWNERSHIP OF 573.18 RESIDENTIAL GOVERNMENT PROPERTY

and information in relation to this requirement.

(3) If the redeemed property is transferred by sale or any other real title, within the period of fifteen (15) years from the date of validation of the application for redemption, an additional payment of three per cent (3%) of the selling price shall be due to the Authority:

Provided that the additional payment of three per cent (3%) shall be paid with the transfer of each individual unit if the redeemed property has been redeveloped into separate units.

(4) The date of validation of the application shall be the date on which the application was validated and ready to be processed by the Authority and such date shall be indicated in the deed of redemption.

(5) Additional payments shall be due only once on the occurrence of the first transfer following redemption.

(6) The property shall be redeemed subject to the condition that it shall be used for a residential purpose in accordance with these regulations and any change in use shall be subject to the provisions of the Amendment or Revocation of a Condition Imposed in a Contract of a Property Transferred by the Government, the Lands Authority or Ecclesiastical Entities by means of a Sale or Emphyteusis Regulations.

(7) Garages and, or parking spaces that form an integral part of the property that is being redeemed, or fall within the same emphyteutical concession and are not used for commercial purposes, shall be redeemed and the rate of a three per cent (3%) additional payment of the selling price shall also be applicable. If the use of the garage and, or parking space be changed to a commercial nature, the provisions of the Amendment or Revocation of a Condition Imposed in a Contract of a Property Transferred by the Government, the Lands Authority or Ecclesiastical Entities by means of a Sale or Emphyteusis Regulations shall apply:

Provided that there shall be no distinction based on the date of the granting of the original concession or on the date of termination of emphyteusis:

Provided further that residential properties with an expired emphyteutical concession and that qualify under the terms of a

Type A redemption, shall be eligible to apply under the same terms of a Type A redemption, once the emphyteutical concession has been renewed under the provisions of the Expired or Expiring

Emphyteutical Concessions Regulations.

(8) The minimum amount payable by the applicant following an application submitted in accordance with the Expired or Expiring Emphyteutical Concessions Regulations shall be of one (1) year ground rent and shall be paid prior to the submission of the application in terms of these regulations:

Provided that any additional payments shall be charged to the seller on transfers subsequent to the deed of redemption and shall be collected by the notary publishing the deed of transfer of property.