Thinking of retirement? Or down-sizing?
Retirement villages are becoming a popular option for those who are able to care for themselves but want comfort and security where some care services are available if needed.
Retirement villages operate differently to a normal residential conveyance or lease. It is an agreement established between the residents and the retirement village managers.
Essentially the individual or couple will occupy the premises and will pay a substantial bond at the commencement of the occupation. The managers of the retirement village will deduct an amount at regular intervals for the purposes of rent and maintenance. When the resident/s wishes to terminate the agreement, or the resident/s has passed away, the remaining balance will be given to the resident/s or the estate of the resident.
Michael Dyson is an experienced practitioner who has reviewed many retirement village agreements and can offer professional and expert advice on your obligations and rights under the agreement. Michael has an extensive knowledge in the area of Property Law and can assist you in the review and execution of such agreements.