Intro to Life Rights
What is a Life Right?
Life Rights are best described as the right to live in a dwelling unit for the rest of your or your current partner’s life. It’s like a lifelong lease where you pay the full lease upfront, and receive back the money you paid when you terminate that lease.
Why would I choose Life Rights?
Two main concerns for retirees are; health and finance. MacLife addresses these concerns in a widely-used manner (life rights), but with some very unique characteristics. The average person seeks an alternative to sometimes costly retirement living. We present an opportunity through which you or your spouse or partner could in effect, having paid a capital investment, live rent-free for the rest of your life.
How long has the concept of Life Rights been around in South Africa?
This concept that has been in existence for many years and is available worldwide. South Africa’s first “Life Right” launched in Ramsgate in 1962 and has become increasingly popular across the country.
Are there other benefits to Life Rights?
Yes! You pay no VAT, no transfer duty or registrations fees and no rates and taxes. There is no need to worry about any external maintenance on your unit, and you do not carry the cost of building insurance. Units are often less expensive than comparable Freehold or Sectional title homes in the same lifestyle village. Your capital investment could under certain circumstances, assist you when you require attentive care as a resident in a Macadamia Care Centre, giving you and your family peace of mind. Along with our flexible pricing structure and Life Right options, retiring has been made a little easier.
Who looks after my physical needs if I require any Care?
Your Care needs are taken care of by our well trained, experienced, and motivated Macadamia Care Team who manage the on-site Care Facility. Macadamia Care offers 24-hour emergency response, health monitoring and Care planning, catering, laundry, and a range of additional services.
What if I want to relocate to another province?
MacLife will allow residents to exchange units between villages where units are available in future and will even consider converting an existing home in a village that has a Macadamia Care Centre into a MacLife house – allowing residents to remain in their homes with less concern about ongoing maintenance and other matters.
What happens when I have no more funds to pay for my Care needs?
MacLife has established a non-profit foundation for the care of long-standing residents that have serious financial difficulties. Estates can be bequeathed to the foundation, which will also have independent trustee members on the board to ensure sound financial management.
What about my monthly levies?
Your monthly levy is affordable and transparent and includes some basic services which you can add to as you see fit.