Are you considering moving to a retirement village?

Many people who are nearing, or who have reached retirement, make a lifestyle choice to live in a retirement village. A retirement village offers a good balance between living independently and having access to support if necessary. The Retirement Villages Act 2003 (the Act) was introduced particularly to protect the interests of residents and intending residents of retirement villages. Retirement villages need to be registered and, unless exempted, have a statutory supervisor to monitor the financial interests of the village. Intending residents are required to obtain independent legal advice before signing an occupation right agreement (ORA). This is because it
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