Relevant interest — resident of retirement village
29A Relevant interest — resident of retirement village
In this section —
operator, in relation to a retirement village, has the meaning given to that term in the Retirement Villages Act 1992 section 3(1);
residence contract has the meaning given to that term in the Retirement Villages Act 1992;
resident, in relation to a retirement village, has the meaning given to that term in the Retirement Villages Act 1992;
retirement village has the meaning given to that term in the Retirement Villages Act 1992.
Where an eligible person who occupies land as a resident of a retirement village —
has entered into a prescribed charge arrangement described in subsection (3) in relation to the land or is taken to have entered into such an arrangement under subsection (5); and
is and remains liable to pay the prescribed charge as an amount payable under the prescribed charge arrangement,
that person has an interest in the land which is to be taken to be relevant for the purposes of this Act.
An eligible person enters into a prescribed charge arrangement for the purposes of this section if the person enters into a written contract, agreement, scheme, deed or other written arrangement with the operator of a retirement village to pay, either directly or indirectly, a prescribed charge on land occupied by the person as a resident of the retirement village.
A prescribed charge arrangement may form part of a residence contract.
An eligible person is taken to have entered into a prescribed charge arrangement for the purposes of this section if the eligible person —
was the spouse or de facto partner of a deceased eligible person who had entered into a prescribed charge arrangement; and
was residing with the deceased eligible person at the time of his or her death.
[Section 29A inserted: No. 9 of 2005 s. 11; amended: No. 42 of 2024 s. 58.]
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