52P

Renegotiation of retirement village agreement

In force

If a person who has a right to live in a retirement village under an agreement enters into a new agreement under which the person obtains a right to live in the retirement village, then, for the purposes of this Division, the total amount paid, or agreed to be paid, for the person’s current right to live in the retirement village is the sum of the following amounts:

(a)

the total amount paid under the new agreement for that right;

(b)

so much (if any) of:

(i)

any amount paid under an earlier agreement to obtain a right for the person to live in the retirement village; and

(ii)

any amount that was, or would have been, payable to the person upon the termination of an earlier agreement;

as ought, in the Commission’s opinion, to be attributed to the cost of the person’s current right to live in the retirement village.

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.