News and views | Aspiring Law

Changes ahead for the rights of retirement village residents

While retirement facilities offer attractive lifestyle options, understanding your legal rights is crucial. Unlike traditional home ownership, retirement village residents don't own their units outright but instead operate under an Occupation Right Agreement (ORA). With the Retirement Villages Act now 24 years old, significant reforms are being proposed to better protect residents' interests. Learn what these proposed changes could mean for current and future residents.

Residential property Trusts and Life planning
New Finance Option Available To Facilitate Transition into Retirement Village

A new financing option could make the transition to retirement living easier. The recently introduced 'Village Access Loan' by one of the banks allows homeowners to borrow up to 50% of their retirement village entry cost, using their existing home as security. This three-year bridging finance gives retirees more flexibility in timing their property sale and securing their preferred retirement village. Find out how this differs from reverse equity loans and what it means for you.

Residential property
Neighbourhood subdivisions

As urban land becomes more expensive, landowners and developers are constantly looking for ways to get the most out of their patch of dirt.

Residential property
Do not pass GO until your title is checked

Buying a property today is never straightforward. There are many checks and balances that must be carried out before you can pass GO.

Residential property
Insurance shake-up on its way

Big changes to insurance are in the works with a new law making its way through Parliament.

Residential property Commercial property
Property, property, property

Kiwis are passionate about property and home ownership. The property landscape can be a complicated one though so here’s a recap of some recent updates.

Residential property
Red tape cuts for building small

Another possible change on the horizon for small dwellings.

Residential property
Fencing around

Thinking about whacking up a new fence? Hold on a minute, there’s a bit more to it than you might think.

Residential property