What is Life Lease?

You may have heard about a form of home ownership described as a life lease. The documents creating the life lease arrangement may not be labeled as a "Life Lease", but may be called a "Right to Occupy" or "Equity Agreement". The important issues are not the labels that attach to this form of property ownership so much as the rights and responsibilities that go with the arrangement. You may also be interested to know, while life leases are relatively new in North America, the purchase of a long term right to occupy has been used as a form of ownership in Europe for hundreds of years.

Life Lease is a generally accepted term to describe a form of property ownership. The Uptown has developed a form of life lease which entails the right to occupy a residential unit for as long as you live and the right to the equity in the unit at the end of your occupation, whatever the reason for termination.

There are two very important ingredients to this arrangement, firstly the exclusive right to occupy the unit and secondly the right to equity when the right to occupy is terminated for any reason....read more

© The Uptown Life Lease Collection • Contact Us