New South Wales Consolidated Acts

RETIREMENT VILLAGES ACT 1999 - SECT 129

129 How and when residence right or contract is terminated

(1) A residence right arising from a contract relating to residential premises in respect of which the resident is a registered interest holder (other than a person referred to in section 7 (1) (c)) terminates on whichever occurs first--

(a) the completion of the sale of the premises, or

(b) if an exit entitlement order is made by the Secretary in relation to the premises under section 182AC--the date on which the operator pays the resident the amount required under the order.

(1A) A residence right arising from a residence contract that is in the form of an assignable lease terminates on the assignment of the lease.

(2) A residence contract (other than a contract referred to in subsection (1) or (1A)) and the residence right under the contract, terminate--

(a) on the date on which the resident permanently vacates the premises, being a date that is (except as otherwise provided under this Part) at least one month after the date on which the resident gives the operator written notice of intention to vacate the premises (or such earlier date as the residence contract may allow), or

(b) on the date on which the resident permanently vacates the premises, or

(c) on the date on which the resident permanently vacates the premises after receiving notice of the operator's intention to apply to the Tribunal for an order terminating the resident's residence contract, or

(d) on disclaimer (for example, on renunciation by the resident accepted by the operator), or

(e) on the death of the last surviving resident under the contract, or

(f) on the date specified by the Tribunal in an order under section 143 declaring that the resident has abandoned the premises, or

(g) on the date on which the contract is terminated by the Tribunal, or

(g1) if an exit entitlement order is made by the Secretary in relation to the premises under section 182AC--on the date on which the operator pays the resident the amount required under the order, or

(h) if the contract is frustrated--

(i) on the eighth day after the date specified in the notice of termination given under section 132, unless application is made to the Tribunal within the time allowed by that section (or the notice of termination is withdrawn within that time), or

(ii) on the date specified by the Tribunal, if the Tribunal determines that the contract is frustrated.

(3) Termination of a residence contract does not affect any other right or obligation of the parties under a village contract.