Victorian Current Acts

RETIREMENT VILLAGES ACT 1986 - SECT 26

    (1)     If during the negotiations which lead to the signing of a residence contract by a resident an owner or manager, or a person acting on behalf of or with the knowledge of an owner or manager makes a statement to the resident to the effect that—

        (a)     all or part of the resident's in-going contribution will be refunded to the resident if the resident leaves the retirement village; or

        (b)     all or part of the resident's in-going contribution will be paid to the resident's estate if the resident dies—

this subsection entitles the resident or the resident's legal personal representative to recover the amount of the in-going contribution to which the statement relates on the happening of the event specified in the statement as a debt due by the owner.

S. 26(2) substituted by No. 4/2005 s. 8.

    (2)     If there is included in a statement mentioned in subsection (1)(a) or (1)(b) a condition which must be fulfilled before an amount becomes refundable under subsection (1), the condition is deemed to be void unless the condition is—

        (a)     in the case of a resident who is an owner resident, in or to the effect that the resident or the resident's legal personal representative becomes entitled to recover the amount—

              (i)     on a day not more than 14 days after the day on which the purchase of the premises from the owner resident is completed; or

              (ii)     if a person takes up residence in the premises in accordance with the contract for the purchase of the premises from the owner resident before the purchase is completed, on a day not more than 14 days after the day on which the person so takes up residence; or

        (b)     in the case of a resident who is a non-owner resident, in or to the effect that the resident or the resident's legal personal representative is only entitled to recover the amount—

S. 26(2)(b)(i) amended by No. 2/2013 s. 7.

              (i)     if payment is made by another person under a residence contract in respect of the premises of the non-owner resident, that is at least the equivalent of the amount owed to the non-owner resident after the non-owner resident has delivered up vacant possession of the premises, on a day not more than 14 days after the day on which the payment is so made; or

              (ii)     on a day not more than 14 days after the day on which another person takes up residence in the premises of the non-owner resident after the non-owner resident has delivered up vacant possession of the premises; or

              (iii)     on a day which is not more than 6 months after the non-owner resident has delivered up vacant possession—

whichever is the earlier; or

S. 26(2)(c) amended by No. 28/2007 s. 3(Sch. item 59).

        (c)     in accordance with the regulations.

    (3)     Subsection (1) applies to a statement—

        (a)     whether oral or in writing; or

        (b)     whether or not the statement was included in a residence contract or in any collateral contract; or

        (c)     whether or not the resident signed a residence contract in reliance on the statement; or

        (d)     despite a provision in a residence contract to the effect that the in-going contribution is a donation or is not refundable or any other provision inconsistent with the statement.

Part 5 — Charges

S. 27AA inserted by No. 32/2020 s. 15.