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Featherwood Retirement Estate – Pretoria Retirement Village



Overview

Featherwood Retirement Estate – Pretoria Retirement Village – offers a variety of options to cater for your needs and to assist in the important decision relating to your retirement, with a fully operational Frail Care facility, clubhouse and much more.

We offer Freestanding Houses, Simplex units on Life right* and Rentals.

HOW DOES LIFE RIGHTS WORK AT FEATHERWOOD RETIREMENT ESTATE?

*A Life Right Agreement is an agreement whereby the developer of a property sells to the Life Right buyer the right to occupy the property for the remainder of his/her life.

Q: How does the payment work?

 A: Residents are required to pay the life right purchase price to the developer’s attorney’s trust account who then sees to the required section 4 C endorsement at the deed’s office. They then have the right to live in the property, on the retirement estate for the duration of their lifetime. Hence, the term ‘life Right’, or until the agreement is cancelled by both parties.

Q: Do I own the property?

 A: Residents do not own the property, they own the right to occupy the property for the duration of their lifetime, or until the death of the remaining Life Right owner.

Q: What do I receive in return?  

A: In return, residents enjoy a high living standard, access to world-class amenities and a like-minded community within a state-of-the-art security estate that includes a fully operational facilities such as Frail Care, Assisted living units and much more. The seller of the Life Right unit can earn up to 98% of the original purchase price once the property is sold.

Q: If I do not own it, what are my legal rights?  

A: Purchasing a life rights ownership means that retirees are protected under by the Housing Development Schemes for Retired Persons Act of 1988. Please visit our webpage www.featherwood.co.za for more information

Q: Are there any monthly or ongoing fees to be paid?  

A: Besides a reasonable monthly levy payable by everyone enjoying the privilege to stay on this lovely estate, irrespective if you are a homeowner by Sectional Title of on Life Right.  

Q: Can I leave the property to my children in my will?  

A: The occupant does not own the property, but the right to occupy it for the duration of their life, once the occupant passes away, the agreement comes to an end, thus the life right cannot be inherited. Should the resident pass away, the developer becomes responsible for either reselling or regranting the Life Right, after which the original purchase price is repaid to the life right payer, after pre-agreed deductions have been made.   

Q: Who can pay for the life Right?

A: Anyone can pay for the life right, for example children or a friend may pay for the life right on the occupants’ behalf, should the occupant pass away, the purchase price is refunded to the children / friend, and not the diseased estate of the life right owner.

Enquire with Featherwood Retirement Estate – Pretoria Retirement Village today.

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