Part 2Registration, occupation right agreements, and related requirements and rules
Occupation right agreements
27Occupation right agreements
No person may make any other person an offer of occupation in a retirement village, or accept an offer by a person to become a resident in a retirement village, except in accordance with an occupation right agreement that contains, in a clear and unambiguous form,—
- provisions and information of the kind specified in Schedule 3; and
- any other provisions required to be specified in an occupation right agreement by this Act or regulations made under this Act; and
- if the occupation right relates to a residential unit to be built or completed at a later date, a proposed date for completion of that unit.
An occupation right agreement may contain—
- a provision requiring decisions of a majority of residents or a specified proportion of residents greater than a majority to bind all residents, except where this Act or any other enactment requires a specified proportion of residents to give consent in relation to any matter:
- provisions that differ from the provisions of the current registered form of occupation right agreement, but only if those provisions are no less favourable to the residents concerned than the provisions contained in the registered document.
An intending resident must receive independent legal advice before signing the occupation right agreement.
The signature of the intending resident on the occupation right agreement must be witnessed by a lawyer.
The lawyer who witnesses the signature of an intending resident must certify on the prescribed form (if any) that, before the intending resident signed the agreement, the lawyer explained to that person the general effect of the agreement and its implications.
The explanation required to be given by subsection (5) must be given in a manner and in language that is appropriate to the age and understanding of the intending resident.
If an occupation right agreement is to be signed by an attorney of an intending resident, or a welfare guardian or manager of the property of an intending resident appointed under the Protection of Personal and Property Rights Act 1988, that person must be treated as the intending resident for the purposes of subsections (3) to (6).