INTRODUCTORY STATEMENT OF INFORMATION
Decisions about retirement villages are very important. They have long-term personal and financial consequences.
You should read this disclosure statement carefully. This disclosure statement draws your attention to some of the important matters you should consider before deciding to enter a retirement village.
You must obtain advice from a lawyer independent of the operator of the village before you sign an Occupation Agreement (i.e., a document which confers on any person the right to occupy a residential unit within the village and specifies any terms or conditions to which that right is subject).
It is common for there to be misunderstandings by residents and their families about:
- The kind of legal interest that the resident has in the village.
- What happens if the resident or their family wants to exit an Occupation Agreement.
- The fees and charges that apply to entering, moving between units within, and leaving the village.
- The ongoing fees and charges.
It is important that you and your family understand what is involved in entering into an Occupation Agreement to join a retirement village.
Download our full disclosure statement here.