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Lifetime Occupancy Agreement
"Need a Lifetime Occupancy Agreement for our retirement community in Ontario, to be implemented by March 2025, which includes provisions for healthcare services, meal plans, and the option for occupants to modify their units to accommodate mobility needs."
1. Parties: Identification of the property owner/grantor and the occupant/grantee with full legal names and addresses
2. Background: Context of the agreement, relationship between parties, and purpose of granting lifetime occupancy rights
3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Occupancy Rights', 'Lifetime', and other relevant terms
4. Grant of Occupancy: Specific terms of the occupancy right, including its lifetime nature and any conditions attached
5. Property Description: Detailed description of the property subject to the occupancy rights, including specific areas included/excluded
6. Duration and Termination: Specification that the agreement is for life, and circumstances under which it may be terminated
7. Occupant's Rights: Detailed description of the occupant's rights, including use of property and facilities
8. Occupant's Obligations: Responsibilities of the occupant including maintenance, behavior, and compliance with rules
9. Owner's Rights: Reserved rights of the owner, including inspection and emergency access
10. Owner's Obligations: Responsibilities of the owner including maintaining the property and providing services
11. Costs and Expenses: Allocation of costs including utilities, maintenance, taxes, and insurance
12. Insurance Requirements: Insurance obligations for both parties
13. Death or Incapacity: Provisions regarding what happens upon death or incapacity of the occupant
14. Dispute Resolution: Process for resolving disputes between parties
15. Governing Law: Specification of applicable Canadian provincial law
1. Additional Occupants: Used when other family members or caregivers are permitted to live with the primary occupant
2. Pets: Include when pets are allowed, specifying conditions and responsibilities
3. Healthcare Provisions: Used for elderly occupants when healthcare services or modifications may be needed
4. Property Modifications: Include when occupant is permitted to make modifications to accommodate health or mobility needs
5. Subletting and Guests: Used when temporary guests or short-term arrangements need to be addressed
6. Service Package: Include when additional services (meals, cleaning, maintenance) are provided
7. Transfer Rights: Used when occupancy rights may be transferred to specific family members
8. Exit Strategy: Include when specific provisions for voluntary termination are needed
9. Financial Security: Used when deposits or financial guarantees are required
1. Schedule A - Property Details: Detailed description of property including floor plans, boundaries, and included fixtures
2. Schedule B - House Rules: Specific rules and regulations governing the use of the property
3. Schedule C - Service Level Agreement: Details of any services provided as part of the occupancy agreement
4. Schedule D - Maintenance Schedule: Breakdown of maintenance responsibilities between owner and occupant
5. Schedule E - Cost Allocation: Detailed breakdown of financial responsibilities and payment terms
6. Schedule F - Permitted Modifications: List of approved modifications and conditions for making changes
7. Appendix 1 - Property Condition Report: Initial condition report of the property at commencement
8. Appendix 2 - Emergency Procedures: Emergency contact information and procedures
9. Appendix 3 - Required Insurance Certificates: Copies of insurance certificates and coverage requirements
Authors
Real Estate
Senior Living
Healthcare
Property Management
Legal Services
Social Services
Retirement Housing
Assisted Living
Estate Planning
Residential Care
Legal
Property Management
Residential Services
Operations
Compliance
Asset Management
Senior Living Administration
Estate Planning
Client Services
Risk Management
Property Manager
Real Estate Lawyer
Estate Planning Attorney
Retirement Home Administrator
Senior Living Coordinator
Healthcare Administrator
Facility Manager
Legal Counsel
Social Services Director
Property Rights Specialist
Housing Coordinator
Residential Care Manager
Asset Manager
Operations Director
Compliance Officer
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