WHAT WE OFFER

FROM R1 190 000

SINGLE UNIT

FROM R1 550 000

DOUBLE UNIT

FROM R1 690 000

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WHAT ARE LIFE RIGHTS

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Understanding the Key Role Players in a
LIFE RIGHT AGREEMENT

If you're considering a Life Right agreement, it's important to be familiar with the four
essential players involved. These include:

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THE OWNER

Holds ownership of the property.
Grants the Housing Interest (Life Right) of their property to the Life Right Holder.

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LIFE RIGHTS HOLDER

The recipient of the Housing Interest (Life Right) pertaining to the property.
In exchange for an interest-free loan in favour of the Owner, the Life Right Holder acquires the Housing Interest (Life Right).

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THE PAYER

The Life Right Holder or a Family Member.
Responsible for making payments to the owner on behalf of the Life Right Holder.

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THE OCCUPANT

The Life Right Holder, which may include two individuals such as a spouse or partner.
With the Housing Interest, the Life Right Holder has the right to reside in and use the property for the duration of their life.

WHAT ARE LIFE RIGHTS

Logo Icon

Understanding the Key Role Players in a LIFE RIGHT AGREEMENT

If you're considering a Life Right agreement, it's important to be familiar with the four essential players involved. These include:

Info 15
Info 16

THE OWNER

Holds ownership of the property.
Grants the Housing Interest (Life Right) of their property to the Life Right Holder.

Info 17
Info 18

LIFE RIGHTS HOLDER

The recipient of the Housing Interest (Life Right) pertaining to the property.
In exchange for an interest-free loan in favour of the Owner, the Life Right Holder acquires the Housing Interest (Life Right).

Info 19
Info 20

THE PAYER

The Life Right Holder or a Family Member.
Responsible for making payments to the owner on behalf of the Life Right Holder.

Info 21
Info 22

THE OCCUPANT

The Life Right Holder, which may include two individuals such as a spouse or partner.
With the Housing Interest, the Life Right Holder has the right to reside in and use the property for the duration of their life.

Understanding "Life Rights" for Retirement Units.

As you approach your golden years, a comfortable retirement is a priority. For many, this includes moving into a retirement village with security and a “resort-style” living. However, many retirees are unfamiliar with the concept of a life right contract. Buying a Life Right is very different from buying a property.  In effect, what you are ‘buying’ when you enter a life rights agreement with a developer is the life-long legal right to occupy your home. If you ever want to relocate, you may terminate this right, but it is not transferable to another person. On termination of your life right, it will be sold by Life Style Edge to another buyer. Life Style Edge retains ownership of the individual homes and the common property.   Life Style Edge is responsible for maintaining them for the benefit of all the residents.  The residents are responsible for maintaining the interior of each apartment. As Lifestyle Edge developers, our interests and those of our residents are aligned with the Life Right model. All village facilities, including the homes and apartments, remain an asset of Life Style Edge, so we manage the village carefully to protect the value of that asset, maintaining all communal facilities and keeping gardens in pristine condition.  At the same time, we keep the village finances, levies and levy inflation in check.

What are Life Rights?

A life right is a contract that allows retirees to purchase the right to live in a retirement village for the rest of their lives, while the developer retains ownership of the unit. Upon the retiree’s death, the right is returned to the developer, who will resell The unit. The contract details all the rules and limitations of purchasing the life right and the compensation the estate will receive upon death or termination of the contract.

Financial Advantages of a Life Right:

There are many financial benefits of life rights at Life Style Edge, most notably:

  • It is the most affordable way to buy into a privileged retirement lifestyle.
  • It means a secure home for life, protected by the Retired Persons Act.
  • You save on up-front costs: no VAT, transfer duty or registration costs are payable, just mandatory legal fees.
  • Management and resales are the developer's responsibility.
  • Housing levies are at affordable prices.

Professional Management

Lifestyle Edge Management takes care of all day-to-day aspects of the village, such as security, hospitality, maintenance, and gardening.

We work together to deliver retirement living at its easiest and best. And we're always there to help. Whatever your particular needs are at any point in time, as a Lifestyle Edge resident, you get to relax, put your feet up, and enjoy the fabulous facilities and amazing amenities on offer.

Pros

  • Less administration and lower costs.
  • Ideal for those with limited capital.
  • No transfer or bond costs.
  • The developer is responsible for maintenance and upkeep.
  • The developer is required by law to provide a two-year cost estimate of all levies.
  • Retirement villages offer additional benefits (e.g., meals, cleaning services, libraries).

Read More About Life Rights

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