select a 2nd currency
LENITAS OLD AGE HOME WITH LIFE RIGHTS (CASH ONLY)
Life Right is a term that in practice establishes the right of occupation to the person, without such a person establishing property rights.
Life-right units are cheaper because the Council remains the owner and therefore does not need to add profit to the development costs. No registration costs, VAT, or property tax are payable.
With life right, the resident/s acquires a life right to live in the unit. The amount paid for the unit is an interest-free loan to the Council and is repaid upon death in the estate. In the case of a couple, life right applies to the surviving spouse. The repayments are on a sliding scale.