The trouble with 'right to occupy' contracts
Residents of rest homes are getting in trouble by purchasing homes with the 'right to occupy'.
Also known as an 'occupation right agreement', these forms of occupation are very different from standard property ownership - it doesn't actually mean you own the property, but you have a contractual right to occupy the dwelling.
People are finding themselves in impossible situations, unable to afford their property and unable to sell.
Consumer NZ director Sue Chetwin this morning joined Paul Henry to discuss just how confusing these contracts really are.
"The contracts for these licenses to occupy can be pages long – there needs to be quite a lot more information about it," says Ms Chetwin. "But what they are getting into is a lifestyle."
Watch the video for the full interview with Sue Chetwin.