Retirement village living is becoming a more attractive proposition as the years go by (who would have thought). Amenities to take advantage of, people to engage with and many other benefits that may not be available in a traditional living arrangement. We have many clients considering moving into colloquially termed retirement villages. Some people have to make the big decision as to whether they move now or at some time in the future. In any event, when you hit a certain age (and I will not nominate that certain age as it will be different for everyone) you should weigh up the benefits and detriments of moving into such a village.
The question then becomes, at what age can I move into the village or what are the prerequisites that must be satisfied before I move into such accommodation?
Retirement villages in New South Wales (NSW) are essentially provided for people who are known as ‘retired persons’.
Under the Retirement Villages Act 1999 http://www5.austlii.edu.au/au/legis/nsw/consol_act/rva1999217/ retired persons means “a person who has reached the age of 55 years or has retired from full time employment”. In the event of co-habiting spouses, at least one of whom mus qualify and executes the village contract including spouses under the Marriage Act 1961 (Cth) and defacto couples under the Property (relationships) Act 1984 (NSW).
If you happen to qualify as a result of the criteria above, it may be time to consider the transition. Conveyancing in relation to such a move is significantly different to that of a standard sale or purchase of land and it is very important that you obtain advice from an appropriately qualified lawyer to guide you through the process. If you have any queries in respect of such a conveyance or transaction, please do not hesitate to call one of the experts here a ClickLaw who will be able to guide you to the right information.