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Inyoni Creek - Frequently Asked Questions

What title do residents receive?

Purchasing a Life Right means you will acquire, for a capital sum, the right to occupy the housing unit for the remainder of your life. This right is not the same as ownership of a property; the housing unit remains the property of The RA Welfare Development Trust (the seller of the Life Right) and therefore you do not receive a title deed and transfer duty is not applicable. A couple or two non-related persons may purchase a life right and they are then regarded as joint purchasers.
When one person passes away or transfers to the Care Centre, the other person may continue to occupy the unit.

What is the capital cost?

The cottage or apartment is available for a cash payment of the purchase amount. Unfortunately we cannot permit occupation until the full purchase price has been paid.

80% of the original purchase price will, upon leaving or in the event of death, be re-paid. The costs of permanent frail care are applicable only to those residents using the Care Centre and are not built into the operating cost of cottages and apartments.

What will the levy be?

There will be a monthly levy charged for the units based on actual annual cost of services such as rates, sewerage, water, servicing of unit, external maintenance, insurance, administration costs, security and 24 days per annum per unit recuperation in the Care Centre. The levy is calculated at cost and every endeavour is made to keep escalation to the bare minimum. Electricity is individually metered for each unit and is billed monthly in arrears.

gym   lounge
  salon  

What happens should transfer to the Care Centre be necessary?

Residents remain responsible for the charges for frail care. However, a percentage of the original purchase
price will be available towards this cost as explained hereunder:

Single Occupancy:
An amount equal to 80% of the original purchase price will be placed in an interest bearing trust with the interest credited to your frail care account.

Double Occupancy:
On transfer of the first person to the Care Centre, an amount equal to 35% of the original purchase price is placed in an interest bearing trust with the interest credited to your frail care account.

On transfer of the second person to the Care Centre, an amount equal to 45% of the original purchase price is placed in an interest bearing trust with the interest credited to your frail care account.

Preferential rates apply for purchasers transferring to the Care Centre.

What happens on death?

On death in a cottage or apartment of a joint purchaser there is no accrual to the estate of the deceased person. On death in a cottage or apartment of the last surviving person, 80% of the original purchase price will accrue to the estate. On the death of the first purchaser after frail care, no amount accrues to the estate of the deceased person. On the death of the last surviving person after frail care, any capital balance remaining in the trust will accrue to the estate of that person. The 20% of the purchase price retained by Rand Aid will be used for the continuous provision of services to the less advantaged.

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