NZ should require retirement community provider hold a seminar and instruction video for retiree to understand the whole document. It should not require the old retiree to hire the lawyer. The document should be clear, plain, easy and peaceful for retiree to sign.
there is no capital gains on your apartment. When you move into a retirement village there is a deferred Management fee which is accrued monthly from the time you move in and caps at 30% after three years. Therefore when you leave the village in the years to come you receive a 70% REFUND ON THE ORIGINAL PRICE YOU PAID
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NZ should require retirement community provider hold a seminar and instruction video for retiree to understand the whole document. It should not require the old retiree to hire the lawyer. The document should be clear, plain, easy and peaceful for retiree to sign.
there is no capital gains on your apartment. When you move into a retirement village there is a deferred Management fee which is accrued monthly from the time you move in and caps at 30% after three years. Therefore when you leave the village in the years to come you receive a 70% REFUND ON THE ORIGINAL PRICE YOU PAID
I think this video did not discuss the refurbishing charge.