Document ID: chunk:federal_register_of_legislation:C2024C00637:section:60
Version: federal_register_of_legislation:C2024C00637
Segment Type: section
Provision Reference: s 60
Character Range: 85411–86535

60  Surviving partners of subsidised borrowers—joint interests in land

Scope
 (1) This section applies if, immediately before the death of the deceased partner, the interest in land by virtue of which subsidy was payable to the deceased partner was held by the deceased partner and the surviving partner as joint tenants.

Transfer of subsidy entitlement
 (2) At the time of death:
 (a) the entitlement of the deceased partner to the payment of subsidy in relation to the subsidised loan is transferred to the surviving partner; and
 (b) subsidy becomes payable to the surviving partner accordingly.

Application of this Part to surviving partner
 (3) This Part applies to the surviving partner in the same way as it would have applied to the deceased partner (had he or she not died), subject to section 64.
Note: Section 64 provides for how this Part applies to the surviving partner.

Continuity of entitlement period
 (4) The transfer under subsection (2) does not break the continuity of the entitlement period in respect of which subsidy had been payable to the deceased partner immediately before his or her death.