An overview of Occupation Right Agreements
Purchasing an Occupation Right Agreement (ORA) at a retirement village is a big decision, and it can be a daunting task reviewing all the paperwork that villages are required to provide to you. Set out below is a brief overview of the more salient aspects of life within a retirement village. A retirement village is governed by the Retirement Villages Act 2003 (“the Act”). This Act protects residents and the village by providing a legal framework in respect of financial reporting,...