The housing development schemes for retired persons act 65 of 1988 was promulgated to do exactly that it protects the investor and strictly regulates the process of selling property to retirees. This act shall be called the housing development schemes for retired. Life rights rebate thi s is not an automatic rebate. Housing development schemes for retired persons act 651989. Information to be disclosed in terms of the retired persons act a the names of the purchaser and the seller and their residential or business addresses in the republic. The housing development schemes for retired persons act 65 of 1988 48. Properties owned by juristic persons that fall under the ambit of housing development schemes for retired persons act,65 of 1988, as amended qualify for a maximum of 50 percent of the current monthly rates. Primary examples of such legal structures are share block schemes, membership of a particular retirement club, longlease agreements, and the granting of socalled life rights. The onus shall be upon the owner of property to pass the benefit of the rates rebate. A group of similarly designed houses or apartment buildings, usually planned and constructed by a single developer. Acts online provides legislation, including amendments and regulations, in an intuitive, online format. The housing development schemes for retired persons act 65 of 1988 the hdsrp act in this article if you purchase a life right in a retirement village, the agreement will be, inter alia, subject to the hdsrp act. We are the leading resource for freely available legislation in south africa and are used daily by thousands of professionals and industry leaders.
Declare that the schemeretirement complexes development is registered with and regulated by the south african association for homes for the aged. Find a law firm in south africa, research the law, 365 faqs on a wide variety of legal topics, 250 legislation acts, free and updated. Some 24 years ago the housing development schemes for retired persons act 65 of 1988 the act was promulgated. Housing development schemes for retired persons act. Housing development schemes for retired persons act no. In these regulations any word to which a meaning has been assigned in the act shall have that meaning and. The constitution of the body corporate of the summerley court. Housing development definition of housing development by. The purpose of the law is therefore the protection of the elderly from exploitation by developers. This act shall be called the housing development schemes for retired persons act, 1988. Printing summerley court retirement development, kenilworth. Housing development schemes for retired persons act 1988. Housing development schemes for retired persons retirement.
Housing development scheme for retired persons in compliance. Erf 989, bothas hill 81 38458 this gazette is also available free online at za staatskoerant. He says the reason behind the acts inability to protect the majority of buyers is that the demands made on developers are simply too onerous. Housing development schemes for retired persons act updated of 22 may 1991 act 65 of 1988 gon 1262, g. Community scheme ombud service an overview thinking. Life rights for senior citizens in retirement villages a checklist for. Dr rob davies, minister of trade and industry, do hereby publish for comment an application by the association for the aged for exemption from the provisions of regulation 7 of 14 of the housing development schemes for retired persons act, no. Housing development schemes for retired persons act, 1988 dti. Housing development schemes for re tired persons act, 1988. Housing cooperatives under the south african cooperatives act, 2005 act 14 of 2005 as well as any other scheme or arrangement in terms of which there is shared use of and responsibility for parts of land and buildings.
Regulations housing housing development schemes for retired persons act 65 of 1988 regulations gnr. Amended by housing development schemes for retired persons amendment act 66 of 1991. Please note that most acts are published in english and another. Housing schemes for retired persons in terms of the housing developments for retired persons act act 65 of 1988, and 5. With acts you are guaranteed the latest and most up to date resource for your legislative needs. Housing development schemes for retired persons act, 1988. Alternative dispute resolution in community schemes. Examples include sectional title development schemes, share block companies, home or property owners associations, housing schemes for retired persons including those involving life rights and. Just because a development is called a retirement scheme, does not mean that it is one. Life rights for senior citizens in retirement villages a. To regulate the alienation of certain interests in housing development schemes for retired persons.
Management of retirement housing schemes in terms of the south african law considered with reference to the new south wales retirement village law. Housing development schemes for retired persons act urbanlex. A larger portion of this law concerns itself with the formalities, language, content of contracts as well as the consequences of contracts declared void or are cancelled. The housing development schemes for retired persons act, 1988 act no. Housing development schemes for retired persons amendment act. Government gazetie, 29 june 1988 housing development schemes for retired persons acf,l988 no. Housing development schemes for retired persons act 65 of 1988. This is a short act to regulate the alienation of certain interests in the housing development schemes for retired persons. Regulations housing housing development schemes for retired. Titles act, 1986 or section 2 of the sectional titles schemes management act, 2011, as the case may be, and, to the extent applicable and necessary, in order to comply with regulation 7 of the regulations promulgated pursuant to section 11 of the housing development schemes for retired persons act, 1988. S 1 amended by housing development schemes for retired persons amendment act 70 of 1990. Retirement villages rvs are being built in every province and retired people buy into these rvs some to their financial detriment while others are completely satisfied. The constitution of the body corporate of the kleinbegin. Section 10 of the principal act is hereby repealed.
Dr rob davies, minister of trade and industry, after having considered an application by the association for the aged also known as tafta for exemption of 8 life right development centres from the provisions of regulation 7 to 14 of the housing development schemes for retired persons act no. Housing development schemes for retired persons act 65 of 1998 the hrp act calls these lesser rights rights of occupation, so as to distinguish them from ownership. You must be 50 years plus to be able to buy a life right in a retirement village. The housing development scheme for retired persons act 65 of 1988 regulates a retirement development, although certain developments do not comply with the exact specifications of the act. Housing development schemes for retired persons act 65 of. Persons act 65 of 1998 the hrp act calls these lesser rights rights of occupation, so as to distinguish them from. Social development, department of maatskaplike ontwikkeling.
All too often the individual buying into a new development is not protected under the housing development scheme for the retired persons act, points out brown. The act is designed to regulate the process of selling property to retired people and to protect property owners from being exploited by unethical. The housing development scheme for retired persons act keeps developers on their toes and their pencils sharpened, ultimately protecting the. Pdf management of retirement housing schemes in terms of the. The main purpose of the act is to regulate the rv industry. Kingshurst retirement apartment complex humewood port elizabeth. Department means the department of human settlements. Click to view and download notices related to the housing development schemes for retired persons act no. Regulations notice of applicability of regulations act to regulate the alienation of certain interests in housing development schemes for retired persons. Protection for retired home buyers market news, news property24. A life rights scheme also provides financial security, as the housing development schemes for retired persons act no.
Protection for retired home buyers market news, news. She advises you to look for a developer with a proven track record to make sure the village is registered under the housing development schemes for retired persons act, and that the frailcare. A retired person should look out for a rv that will suit his or her. May 24, 2017 housing development schemes for retired persons act 24 may 2017 by yourproperty to regulate the alienation of certain interests in housing development schemes for retired persons. Housing development scheme for retired persons in compliance with the housing development scheme for retired persons act act. Pdf management of retirement housing schemes in terms of. Housing scheme definition and meaning collins english. Amended by housing development schemes for retired persons amendment act 70 of 1990. The shareholders of the developer own and administer substantial portfolios of the properties and have considerable experience in the operation of the retirement schemes. This information is set out in items 1, 2 and 7 of the information schedule. Declare that the above property is registered in terms of the housing development schemes for retired persons act 65 of 1988 and the title deeds are appropriately endorsed to reflect this.