In your retired years, you need simplicity and security.
Our team are experienced in sifting through complex agreements and contracts. We focus on what you need to enjoy life.
There are several ways for people to own or occupy premises in a retirement village. People can occupy retirement villages under either:
- Long-term lease and license structures that require an up-front capital payment; or
- Direct ownership structures that offer freehold strata title or community title; or
- Indirect ownership structures that offer shares in a company or units in a unit trust that carry a right to occupy a unit in a village that is legally owned by the company or the trustee of the trust; or
- Manufactured home structures that offer ownership of a manufactured home and a lease or license to occupy a site; or
- Conventional lease structures that require regular rental payments instead of an up-front capital payment.
At Masons Solicitors, we always recommend seeking the advice of an experienced lawyer whilst reviewing alternative retirement village options and prior to signing any documents regarding occupation.
We can also assist you with interpreting the Retirement Villages Act 1999 and the Manufactured Homes (Residential Parks) Act 2003 and can provide you with a full understanding of your legal position.