RETIREMENT VILLAGES AND HOME OWNERSHIP

A QUESTION OF CONTROL 

Do those ‘buying’ a property, receive the title deeds to the homes they buy. Is ownership of the property purchased, transferred to them by their receipt of the title deeds?

In most retirement villages, residents typically **do not receive title deeds** to the homes they purchase. The ownership structure is usually different from traditional home ownership. Here’s a breakdown:

1. **Leasehold Agreements**: Residents usually enter into a leasehold arrangement where they pay an upfront fee for the right to live in the home for a set period or for life. They do not receive title deeds and do not own the land; the ownership remains with the developer or management company.

2. **Freehold Ownership**: In rare cases, a retirement village may offer properties under a freehold structure, where the buyer does receive title deeds and owns the property outright. This is less common in retirement settings.

3. **Strata Title**: This is another arrangement where residents might receive ownership through a title deed for their unit, along with shared ownership of common facilities, depending on local laws.

4. **Co-operative Housing**: Residents own shares in a co-op rather than individual title deeds for properties, so they do not own their home outright.

 Conclusion

In summary, in most retirement villages, ownership is not transferred to the residents through title deeds. To understand the specific arrangements and ownership rights, potential buyers should carefully review their agreements and seek legal advice.