Queensland Consolidated Acts Queensland Consolidated Acts(1) If the lessee of a residential lease accepts an offer to convert, the Governor in Council must issue a deed of grant to the lessee for the land contained in the lease.
(2) On the registration of the deed of grant, the lease is cancelled.
(3) The deed of grant issued under subsection (1) is issued subject to all of the interests to which the lease was subject immediately before its cancellation and in the same priorities.