Senior Citizens

Life Lease Housing and Seniors (continued) #352

Legally Speaking

By Gerry Neely B.A. LL.B There are several models for life lease housing other than the one referred to in Legally Speaking 351. That model requires the landlord to refund the purchase price to a life tenant whose lease is terminated. Other models include the following: The tenant receives the refund of the purchase price

Life Lease Housing and Seniors #351

Legally Speaking

By Gerry Neely B.A. LL.B Life lease is a term for an alternative residence and ownership arrangement for seniors. The term has been growing in BC over the past ten years because of its appeal to seniors with shared interests and values. The typical arrangement involves a non-profit service club or church sponsoring the construction