It's a requirement of the Retirement Villages Act 2003 that an operator must issue a compliant disclosure statement to an intending resident before the resident can sign an occupation right agreement.
About disclosure statements
Details of what is included in the disclosure statement are outlined in:
- Schedule 2 and schedule 5 of the Retirement Villages Act 2003, and the
- Retirement Villages (General) Regulations 2006
The following template is available free of charge to help retirement village operators to develop these often complex documents.
This template is a guide only and its use is voluntary. Operators may wish to develop their own statement without using this template.
It's important to make sure that the statement is compliant with the legislation.
An occupation right agreement may be void if a resident entered into the agreement without receiving a disclosure statement that complies with the Act.
Published: May 18, 2020