Retirement Villages Act 2012

In this Act:

a person’s right to occupy the residential premises under a contract—

under which the person bought the residential premises; or

under which the person bought shares entitling the person to occupy the residential premises; or

in the form of a lease, licence, arrangement or agreement of any kind (other than a residential tenancy agreement)—

entered into under division 10.5 (Sale or letting of premises by certain residents); or

that contains a term to the effect that this Act does not apply to the residential premises; or

under which the person lends money to the operator of the village in consideration for, or in expectation of, the right to occupy the residential premises; or

prescribed by regulation; or

any other right prescribed by regulation.

The contract that gives rise to a residence right is a residence contract, and a residence contract is a village contract (see dict).

For the definition of residence right, it does not matter if the person who acquired the right (the acquirer)—

is a corporation, if the residential premises is intended for use by an individual; or

acquires it for the purposes of allowing another person to live in the residential premises instead of the acquirer.

If subsection (2) applies, a retired person who lives in the residential premises with the acquirer’s consent is taken to have the residence right.