Property Law Retirement Villages

Retirement Villages

As the population ages many turn their thoughts to selling the family home and applying the proceeds of sale towards entry into a retirement village which may provide security and relief from property maintenance. 

It must be remembered that residents in a Village do not actually own the home in which they live but have a right of residence which is governed by a lease or licence between the occupier and the Village Administration. The terms of these agreements between the parties may vary from village to village but all have basic principles for control. The agreements are not always easy to understand and you should take advice from your Solicitor before actually signing in order that you are aware of your rights and responsibilities.

If you are considering entering a Retirement Village it is a good idea to enquire into the terms of residency and obtain legal advice before actually taking the step of selling your home to ensure you are quite happy with the future terms of residence.