Retirement Village Contract Rescission - Retirement village residents are attending a Greiner enquiry community forum at Wagga Wagga to discuss industry issues such as above.
The ability of a retirement village resident in New South Wales to rescind their contract on grounds of a matter relating to the disclosure statement is almost non-existent as they are only granted 3 months after taking occupancy to put in place such an action. No retirement village resident would have an understanding of every actual or potential wrongdoing arising from the disclosure statement within that time frame. Many actions within the disclosure statement take place well outside the first three months of occupancy. The Victorian system (Section 42) has a 'must take action within 6 months of becoming aware of a wrongdoing' legislative provision.
Operators are well protected in that any hurt done to a resident must be clearly shown to be a material hurt.
Retirement Village Contract Rescission - If the New South Wales Greiner enquiry into retirement villages is truly looking to improve potections for retirees Section 33 of the Act should be amended inline with the Victorian provision.
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