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- By Matt Shirley (Senior Solicitor) and Antoinette Searle (Special Counsel) of Rice Craig, Barristers and Solicitors
For many families, moving into a retirement village represents one of life’s most significant decisions – one that brings the promise of security, community, and support. But before taking that step, it is essential to understand the legal and financial commitments involved, so that you and your loved ones can move forward with confidence.
One of the key documents you will be asked to sign is called an occupation right agreement (ORA). The ORA sets out the terms of your right to live in the retirement village and explains the costs, conditions, and obligations that apply throughout your time there. In most cases, residents are purchasing the right to occupy a home in the village, rather than owning the property itself.
An ORA will include a range of important details such as weekly fees, deferred management fees, maintenance responsibilities, refurbishment costs, healthcare services, and what happens when you leave the village. These terms vary significantly between villages, which is why we strongly recommend seeking independent legal advice before committing.
Alongside your ORA, another critical step in entering a retirement village is having enduring powers of attorney (EPAs) in place. Villages all typically require these documents before occupancy begins, and they are vital documents to have even if you are not considering a retirement village. EPAs allow you to appoint trusted people to manage your financial affairs and make personal care or welfare decisions – such as medical choices – on your behalf if you are no longer able to do so yourself.
Putting EPAs in place early helps avoid unnecessary stress and delays for loved ones during difficult times. It also ensures your wishes are clearly recorded, and decisions can be made smoothly if circumstances change.
At Rice Craig Barristers and Solicitors, we regularly help families navigate retirement village entry and ensure their legal documents are properly in place. If you have any questions or would like to discuss your situation, please do not hesitate to contact us.
