Resales

Selling Your Life Interest

A life leaseholder may sell or transfer their life lease interest at any time to an approved purchaser. Townsend Meadows retains a 5% administrative fee out of the proceeds of any sale or transfer which is dedicated to future improvements to the development. The unit life leaseholder, their Power of Attorney or Estate Trustee must contact the Board of Directors to begin the process. This means that real estate services are not required to complete a unit sale.

Prospective Purchasers List

A list of prospective purchasers will be maintained by Townsend Meadows. 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. When there is a unit available for resale, this list of prospective purchasers will be notified.

Management of Resale Units

The Board of Directors has the responsibility of maintaining the prospective purchasers list, and of facilitating unit resales. If there is not a prospective purchaser interested in purchasing a life lease unit when one is available, the Board will advertise the unit on this website under the tab “Listings”. The Board manages all approvals, agreements and required paperwork with a resale. The leaseholder, their Power of Attorney or Estate Trustee will set the sale price and negotiate with a purchaser to come to an agreement on the purchase price. They will also negotiate the closing date. The Board of Directors will be notified to prepare the closing paperwork and a new Life Lease Occupancy Agreement for the purchaser(s).

Units Available for Resale

Available units are described under Listings.