What is a Life Right?

A Life Right is a widely practiced and well recognised retirement housing model worldwide.  A Life Right means that you are buying the right to live in a unit – usually with your spouse or partner – for the rest of your lives, giving security of tenure for life.

The history of Life Rights

The first Life Right model retirement village was established in South Africa in 1962 at Ramsgate on the KwaZulu-Natal South Coast.  The Life Right Scheme has been officially recognised by the Housing Schemes for Retired Persons Act of 1988 (amended in 1990).

Why we choose Life Rights

Over the years, Life Rights have allowed our Residents to purchase reasonably priced, modern housing with affordable levies. The Life Right contract ensures your long-term care, if needed. Importantly, it provides peace of mind to our Residents and their families. At Randjes Estate, we are confident that this model will continue to serve Residents for generations to come.

Financial Benefits of Life Rights include:

  • No transfer fees
  • No registration fees
  • No sales commission
  • No VAT
  • You only insure household contents

Our Life Rights Model

  • The surviving spouse or partner’s Life Right is relinquished when he/she moves off the Estate or passes away.
  • On the resale of your unit, the percentage refund is 75% of the original purchase price for a 1-30 month occupation, 62.5% for a 31-60 month occupation and 50% for 5 years or longer.
  • Should you move to our Care Facility on the Estate, the relevant percentage of the original purchase price is used to fund frail care costs when your unit is sold. The monies left with Randjes Estate earns interest.
  • Any amounts remaining on the Life Righters departure or passing are refunded into his/her private Estate.