Queensland Consolidated Acts Queensland Consolidated Acts(1) An exit entitlement is the amount that a scheme operator may be liable to pay to, or credit the account of, a former resident under a residence contract arising from--
(a) the resident ceasing to reside in the accommodation unit to which the contract relates; or
(b) the settlement of the sale of the right to reside in the accommodation unit.
(2) In this section, a reference to a former resident includes a reference to a person, other than a scheme operator, who enters into a residence contract for the purpose of giving someone else a right to reside in the retirement village.