With an occupancy license, you acquire the contractual right to occupy a property, but you do not have legal ownership over the property itself or on the land. What issues should the agreement address? The ORA covers: the offer of these rights must be made in a contract of right of occupancy (ORA). The ORA is your contract and covers your payment obligations, the obligations of the village manager, the procedures for meetings and consultations, termination rights and the dispute resolution process. The Retirement Villages Act 2003 defines very concretely what should be included in the ORA. We offer our clients a complete legal offer directly here at Wairarapa. We can provide legal assistance, whether you are an individual or a business, from the creation of a will to the sale of your farm. Occupation Right Agreements (ORAs) An occupancy right contract is an agreement between you and your retired village operator that defines the terms of your contract. While some villages operate with different models (z.B. Purchasing condominiums, rents and capital, most senior villages in New Zealand use ORAs.
In principle, an ORA is to be filled your license – sign it and you secure your right to the unit of your choice. How much will it cost to move to a senior village? This is called the sum of capital (in other words, the amount you pay for the unit you have chosen), and it depends on the unit in which you want to live, and in which village. In addition to the amount of capital, you must also record village expenses that cover expenses such as rates and maintenance. The amount and frequency to be paid are defined in your ORA. At Metlifecare, we guarantee a fixed village fee for life so you know what your costs are now and in the future. Our ORAs also give you the right to live in your home for the rest of your life, as well as privileged access to our care homes if you need it. The transfer of self-contained accommodation to a managed apartment is free in the villages of Metlifecare. We offer a wide range of legal services and advice to our clients who come to us with a number of different legal issues.
In any case, we strive to get our clients the best advice and the best result. Come to our experienced and competent team on all legal issues and if we do not find the answer, we will be able to find you the right expert to give you the right advice and get you the best result.