22 (1) An owner may at any time request that the Trust sell, on the owner’s behalf, all the owner’s title and interest in the house and land lease or vacant land lease.  1993, c. 15, s. 22 (1). Trust offers to sell (2) Upon receipt of a request, the Trust shall immediately offer the house and land lease or vacant land lease for resale on the owner’s behalf to the individuals on the list described in section 25 for a price to be determined by the regulations.  1996, c. 15, s. 16 (1). (3) Repealed:  1996, c. 15, s. 16 (1). Options of purchaser (4) Within 30 days after the receipt of the offer from the Trust, the individual shall, (a) accept the offer at the price and on the terms offered by the Trust; or (b) reject the offer.  1993, c. 15, s. 22 (4); 1996, c. 15, s. 16 (2). Option deemed taken (5) An individual who fails to respond to an offer from the Trust as provided in subsection (4) shall be deemed to have responded under clause (4) (b).  1996, c. 15, s. 16 (3). Presentation of offer (6) If an individual accepts the Trust’s offer, the Trust shall present the acceptance to the owner as an offer to purchase the house and land lease or vacant land lease.  1996, c. 15, s. 16 (3). Owner’s options (7) Within thirty days after the presentation of the offer, the owner shall, (a) accept the offer at the price and on the terms offered by the individual; or (b) reject the offer and withdraw his or her request to the Trust.  1993, c. 15, s. 22 (7); 1996, c. 15, s. 16 (4). Option deemed taken (8) An owner who fails to respond to an offer presented by the Trust as provided in subsection (7) is deemed to have responded under clause (7) (b).  1993, c. 15, s. 22 (8). Same (9) Despite subsection (8), if the offer is made as a result of the owner’s deemed request for a sale under subsection 17 (7), an owner who fails to respond to an offer presented by the Trust as provided in subsection (7) is deemed to have responded under clause (7) (a).  1993, c. 15, s. 22 (9). Acceptance of offer (10) If an owner accepts the offer, the owner shall transfer all his or her title and interest in the house and land lease or vacant land lease to the Trust and the Trust shall then transfer all its title and interest in the house and land lease or vacant land lease to the purchaser.  1993, c. 15, s. 22 (10). Deferred payment (11) Despite subsection (10), the owner shall receive no proceeds from the sale of the house and land lease or vacant land lease to the Trust until the Trust receives the money from the purchaser and until all unpaid occupation charges for the land, charges owed to the Trust, the sewer and water charges under subsection 5 (4) and interest are paid in full.  1993, c. 15, s. 22 (11). Joint tenants (12) If more than one individual purchases a house and land lease, the Trust shall transfer the ownership to the individuals as joint tenants.  1993, c. 15, s. 22 (12). Distribution (13) The Trust shall distribute the proceeds of the sale and the payment under subsection 21 (7) in the manner prescribed.  1993, c. 15, s. 22 (13). Transition, 1996 amendments (14) Despite the termination of the lease to the Trust described in paragraph 2 of subsection 22 (1) of the Toronto Islands Amendment Act, 1996, every land lease sold under this section before subsection 22 (1) of that Act comes into force is continued.  1996, c. 15, s. 16 (5). Section Amendments with date in force (d/m/y) 1996, c. 15, s. 16 (1-5) - 22/07/1996