A Disclosure Statement is one of the documents you will receive if you intend to ‘purchase’ into a village (alongside an Occupation Right Agreement or ORA).
A Disclosure Statement is an important document to read and understand, as it explains the key information about moving to a village, including the type of investment or legal title involved and the costs associated with living in the village. Your lawyer should go through this document with you.
Each village in New Zealand will provide a Disclosure Statement which must outline information including:
- The ownership structure of the village
- The type of occupancy right you have as a resident
- Any costs associated with living in the village (including an estimate of the amount you might receive if leaving the village)
- The facilities and services on offer
- If there are plans for developments in the village
- Who the statutory supervisor is and what they do
- Your rights to terminate your ORA
You can find a list of all the information required in a Disclosure Statement on the New Zealand Legislation website.
Updated: 21 Dec 2023