Document ID: chunk:federal_register_of_legislation:F2024C01285:reg:29d:p1
Version: federal_register_of_legislation:F2024C01285
Segment Type: reg
Provision Reference: reg 29D (pt 1/2)
Character Range: 89210–91650

29D  Eligible home buyer, eligible single parent and eligible single legal guardian
 (1) Subject to subsection (2), a person is an eligible home buyer in relation to a loan if, at the time the loan agreement is entered into:
 (a) the person has not, in the last 10 years, held a freehold interest in real property in Australia, or a relevant interest in land; and
 (b) the person is at least 18 years of age and either an Australian citizen or a permanent resident; and
 (c) the person satisfies the income test.
 (2) For a New Home Guarantee, the requirements in subsection (1) must instead be satisfied at the time the person makes an application for a loan, or when the contract to which the loan agreement relates is entered into (as relevant).
 (3) A person is an eligible single parent in relation to a loan if, at the time the loan agreement is entered into:
 (a) the person either:
 (i) does not hold a freehold interest in real property in Australia; or
 (ii) does hold such an interest, but either:
 (A) intends not to after no more than 4 weeks from when they become the registered owner of the property that will be purchased with the loan; or
 (B) holds it as joint tenant or tenant in common in the property to which the loan relates, and intends to become the sole registered owner of the property as a result of the loan; and
 (aa) the person does not hold a relevant interest in land; and
 (b) the person is at least 18 years of age and either an Australian citizen or a permanent resident; and
 (c) the person satisfies the income test; and
 (d) the person is single; and
 (e) the person has at least one dependent child.
 (3A) A person is an eligible single legal guardian in relation to a loan if, at the time the loan agreement is entered into:
 (a) the person either:
 (i) does not hold a freehold interest in real property in Australia; or
 (ii) does hold such an interest, but either:
 (A) intends not to after no more than 4 weeks from when they become the registered owner of the property that will be purchased with the loan; or
 (B) holds it as joint tenant or tenant in common in the property to which the loan relates, and intends to become the sole registered owner of the property as a result of the loan; and
 (b) the person does not hold a relevant interest in land; and
 (c) the person is at least 18 years of age and either an Australian citizen or a permanent resident; and
 (d) the person satisfies the