If:

(1)an estate or interest in land is sold subject to terms that provide for the grant of a lease directly or indirectly out of the estate or interest to the seller (or a person connected with the seller); and

(2)the period that begins with sale and ends on the earliest date that the lease could be granted is 50 years or less; and

(3)the price for which the estate or interest is sold exceeds the total of:

(a)the amount of any premium for the lease; and

(b)the value (at the sale date) of the right to receive a conveyance of the reversion immediately after the lease commences,

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