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RETIREMENT VILLAGE

 

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FEATURED RETIREMENT VILLAGES
Cardinal Freeman Village

Cardinal Freeman Village
Ashfield NSW

Beauty Point Retirement Resort

Beauty Point Retirement Resort
Padstow Heights NSW

Seabeach Gardens

Seabeach Gardens
Mona Vale NSW

 

Retirement Villages in New South Wales (NSW) - What is a "Registered Interest Holder"?

The regulation of retirement villages in New South Wales (NSW) is the responsibility of the New South Wales State Government. The retirement villages laws comprise the Retirement Villages Act 1999 (the Act) and the Retirement Villages Regulation 2009 (the Regulations).

In some situations, the Act applies differently depending on the resident's legal and economic interest in their home. A "registered interest holder" either owns their home (including strata title, community title and company title) or they have a registered long-term lease for life or at least 50 years (including any option) and they are entitled to at least 50% of any capital gain when the home is sold or leased to the next resident.

As registered interest holders either own their home or are entitled to at least 50% of any capital gain, they have a particular interest in the re-sale process and the value of the home when it is sold or leased to the next resident. This is important in several respects, including:

  • refurbishing the home before it is sold or leased to the next resident
  • the procedure for selling or leasing the home to the next resident
  • determining when the recurrent charges and any departure fee cease to accrue
  • determining when the operator must refund the ingoing contribution or pay over the proceeds of sale, less any allowable deductions (such as accrued recurrent charges and any departure fee).

More Information?

For general information about retirement villages, please see our Retirement Villages Guide.

For specific information about retirement villages in New South Wales (NSW), please see the following pages:

  1. Introduction

  2. Information and Representations

  3. What is a "Registered Interest Holder"?

  4. Departure Fees

  5. Condition, Repair and Refurbishment

  6. Vacating the Premises

  7. Dispute Resolution

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