RETIREMENT VILLAGES ACT 1986 - SECT 32E Purchaser and manager to enter into contract

RETIREMENT VILLAGES ACT 1986 - SECT 32E

    (1)     If an owner resident sells his or her premises in a retirement village, the owner resident must give the manager sufficient notice of the proposed sale to enable the manager to comply with section 19.

Penalty:     60 penalty units.

    (2)     Any contract for the sale of the premises of an owner resident in a retirement village is deemed to include a provision to the effect that the contract is conditional on the purchaser entering into a management contract with the manager of the village on or before completion of the purchase.

    (3)     As soon as practicable after the contract for the sale of the premises is entered into, the owner resident must notify the manager of the retirement village in writing of that fact.

Penalty:     60 penalty units.

    (4)     If the manager of the retirement village decides not to enter into a management contract with the purchaser, the manager must, not later than 21 days after being notified under subsection (3)—

        (a)     advise the owner resident of that decision and of the reasons for it; and

        (b)     apply to the Tribunal for an order declaring that the manager is not obliged to enter into the management contract.

S. 32F inserted by No. 4/2005 s. 10.