Learn all you need to know about life rights from Tonkin Clacey

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BUSINESS NEWS - Mossel Bay's specialists in property law, property developments and financing, and alternative dispute resolution, Tonkin Clacey, can help you navigate all of these areas with ease.

Tonkin Clacey can assist with life rights retirement schemes.
As there is a large number of retirees in Mossel Bay, Jaco Lötter, head of the Mossel Bay offices of Tonkin Clacey Attorneys, invites you to learn all about life rights retirement schemes, understanding all the important processes and how they can benefit you, enabling a comfortable and secure life in your retirement years.

Lötter said a life rights agreement is written and signed by a developer and a purchaser, for the right to occupy a unit in a retirement complex as well as the right to use all the development facilities, amenities and services, including medical services.

The occupation period is usually the purchaser's and the spouse's lifetime.
When the holder of the life right passes away, the right of the unit reverts to the developer, with a percentage of the purchase price paid back to the life right holder’s estate.

Potential purchasers of life rights in a development can look forward to low maintenance costs, nominal transfer fees, no transfer duty, and the purchase price of the life rights is often lower than the comparative price of conventional properties.

The entire process is regulated under the Housing Development Schemes for Retired Persons Act No 65 of 1988 to ensure all parties are treated fairly and equally. There are benefits for developers as well: infinite business.

Lötter believes there is no substitute for personal contact with clients and invites prospective purchasers and developers to stop by the Tonkin Clacey offices in Marsh Street, Mossel Bay, to learn all about what life rights entail for both parties, all while enjoying a cup of coffee.

Tonkin Clacey Inc. Mossel Bay

044 220 0240
083 600 4903
jaco@tcinc.co.za
www.tcinc.co.za
Office 4, Nautilus Place
27 Marsh Street,
Mossel Bay