RETIREMENT VILLAGES ACT 1999 - SECT 68
Costs of selling
RETIREMENT VILLAGES ACT 1999 - SECT 68
Costs of selling
68 Costs of selling
(1) The costs of the sale of a right to reside in a particular accommodation
unit, including the costs mentioned in sections 60(2) and 67(3) , are to be
shared by the former resident and the scheme operator in the same proportion
as they are to share the gross ingoing contribution on the sale of the right
to reside, as provided for in the residence contract.
(2) However, if the
former resident engages a real estate agent to sell the right to reside, the
former resident must pay the real estate agent’s costs of the sale, if any,
and commission.
(3) Except as provided by subsections (1) and (2) , a scheme
operator must not charge a former resident a fee, charge or commission,
however described, for selling the resident’s right to reside in the
resident’s accommodation unit.
Penalty—
Maximum penalty—40 penalty
units.
(4) However, subsection (3) does not apply to an operator under an
existing residence contract.
(5) This section does not apply if the former
resident’s right to reside in the retirement village was terminated under
section 53(3) (d) .
