Occupant of homestead to become owner

(1) Subject to the other provisions of this Act, an occupant of homestead in occupation of a dwelling house on the date of commencement of this Act, or an occupant of homestead who is restored to possession of the homestead and dwelling house under sub-section (3) of section 4 shall, with effect on and from the said date of commencement, be the owner of such homestead and dwelling house: Provided that the extent of homestead which the occupant of homestead is entitled to become an owner under this sub-section shall not exceed 0.056 hectares (5 cents). (2)The right of ownership conferred on an occupant of homestead under sub-section (1) shall be heritable but not alienable.