Recorded Webinar: Retirement Conveyancing: It Pays to Plan Ahead (Vic, NSW, Qld, ACT)

At present roughly 16% of Australia’s population is 65 years or over. The Australian Institute of Health and Welfare predicts that is number will double by 2057. It follows that the retirement homes will continue to be a growth area for conveyancing and property law well into 21^st century and beyond. However, navigating the peculiarities of conveyancing transactions involving retirement homes can be difficult. This session will provide an overview of conveyancing in the retirement home context and flag the practical considerations to bear in mind when advising or assisting clients in this area including:

• Understanding the type of legal interest being acquired in the facility (e.g. is it a lease, licence, strata – what difference does it make?)
• Clarifying what the agreement does and does not include and its compliance with applicable legislation
• Identifying issues of capacity, the role of Enduring Powers of Attorney (EPAs) and how to look out for and mitigate against the risk of elder abuse or abuse of EPAs in the conveyancing process
• What happens to the interest/title when the party becomes deceased
• Understanding the role and impact of the downsizer contributions