Retirement Villages

Brookfields acts for both private clients purchasing in a retirement village and for the owners/operators of retirement villages in relation to the development, funding and operating of retirement villages . This means that we are expert in understanding all aspects of this area of law. We also can advise you on longer term issues that we have seen in the past.

The Retirement Villages Act 2003 requires a purchaser to get advice from a solicitor before signing the documentation. The paperwork involved can be daunting and expert advice is critical. With most retirement villages you are not purchasing the villa/apartment/unit but acquiring an occupation right. The villa/apartment/unit will not increase in value in the same way that an ordinary residential property might. On your death, or the sale of the facility, your family will get back less than what you paid for the unit.

The legal obligations on owner/operators are extensive and are imposed under statute. Whether you have a regulatory issue, financing requirements, a property dispute, contractual needs or resource management/building issues, our team can help.

 

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