Selling Your Life Interest
An owner may sell or transfer their life lease at anytime to an approved purchaser. Townsend Meadows retains a 5% administrative fee of the proceeds of any sale or transfer which is dedicated for future improvements to the development. The unit owner, their Power of Attorney or estate Executor must contact the Board Marketing Committee to begin the process of selling or transferring the life lease.
A waiting list of potential purchasers will be maintained by Townsend Meadows. This means that real estate services are not required to complete a unit sale. Any eligible age 55+ member of the public interested in purchasing a future resale unit at Townsend Meadows may contact the Board Office to have their name added to the wait list.
Management of Resale Units
The Board Marketing Committee has the responsibility of maintaining the wait list, and of facilitating unit resales. The committee manages all approvals, agreements and required paperwork related to the resale of a Townsend Meadows unit. The Board keeps all documentation on file.
When notified by a resident, Power of Attorney or estate Executor that a unit is for sale, the Marketing Committee will contact the name at the top of the wait list and will work down the list until a buyer who meets the terms and conditions is found. The buyer and seller are put in contact to arrange the purchasing price.
Units Available for Resale
There are currently no units available for resale.