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Thinking of moving to a retirement village? Here’s what you need to know about life rights vs sectional-title ownership

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You must be at least 50 to enter a life-right contract which applies until the death  of the last surviving partner. (PHOTO: Gallo Images/ Getty Images)
You must be at least 50 to enter a life-right contract which applies until the death of the last surviving partner. (PHOTO: Gallo Images/ Getty Images)

Retirement villages have grown in popularity due to the security and the “resort-style” living they offer.

Many of them now offer what’s known as life rights, and there are some where you can only purchase a life right in the complex rather than buying a sectional title unit.

Here’s what buying a life right in a retirement village means, how it differs from sectional-title ownership and some things to consider so you can decide which of these two options is best for you.

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