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Lifetime Occupancy Agreement
"I need a Lifetime Occupancy Agreement for my elderly mother to live in our family-owned property in Mumbai, with specific provisions for her live-in caregiver and arrangements for her medical needs, to be effective from March 1, 2025."
1. Parties: Identification of the property owner and occupant(s), including their full legal names, addresses, and capacity to contract
2. Background: Context of the agreement, relationship between parties if relevant, and circumstances leading to the lifetime occupancy arrangement
3. Definitions: Definitions of key terms used throughout the agreement, including 'Lifetime Occupancy', 'Property', 'Occupant', 'Owner', etc.
4. Grant of Occupancy: Specific terms of the occupancy right, including description of the property and the nature of the occupancy right granted
5. Duration and Termination: Specification that the agreement is for the occupant's lifetime, and circumstances under which it may be terminated
6. Occupancy Fees and Costs: Details of any ongoing fees, maintenance costs, utilities, or other financial obligations
7. Rights and Obligations of the Occupant: Detailed list of occupant's rights and responsibilities, including maintenance, permitted uses, and conduct requirements
8. Rights and Obligations of the Owner: Owner's ongoing responsibilities, including major repairs, insurance, and property tax obligations
9. Property Maintenance: Specific provisions regarding day-to-day maintenance, repairs, and improvements to the property
10. Death or Incapacity: Provisions dealing with what happens upon death or permanent incapacity of the occupant
11. Insurance: Requirements for property insurance, contents insurance, and liability coverage
12. Dispute Resolution: Process for resolving disputes between parties, including mediation and arbitration provisions
13. Governing Law: Specification that the agreement is governed by Indian law and relevant state laws
1. Sub-letting and Assignment: Optional section prohibiting or allowing sub-letting or assignment of occupancy rights - include if there's a need to explicitly address this
2. Shared Facilities: Include when the property has common areas or shared facilities with other occupants
3. Care Services: Include when additional care services are part of the arrangement, particularly for elderly occupants
4. Family Members/Visitors: Include when there's a need to specify rules about family members or visitors staying at the property
5. Modifications to Property: Include when there's a need to address potential modifications for accessibility or other purposes
6. Pets: Include when there's a need to address whether pets are allowed and under what conditions
7. Exit Rights: Include when the occupant needs the right to voluntarily terminate the agreement
8. Religious or Cultural Requirements: Include when specific religious or cultural practices need to be accommodated
1. Schedule 1 - Property Description: Detailed description of the property including floor plan, boundaries, and included fixtures/fittings
2. Schedule 2 - Inventory: List of furnishings and items included with the property
3. Schedule 3 - Service Charges: Breakdown of any service charges, maintenance fees, or other regular payments
4. Schedule 4 - House Rules: Specific rules and regulations regarding the use of the property
5. Schedule 5 - Maintenance Schedule: Details of regular maintenance tasks and responsibilities
6. Appendix A - Required Notices: Forms and formats for various notices required under the agreement
7. Appendix B - Emergency Contacts: List of emergency contacts for both parties and important service providers
Authors
Real Estate
Elder Care
Social Housing
Residential Property Management
Healthcare Facilities
Retirement Living
Legal Services
Social Services
Property Development
Family Trust Management
Legal
Real Estate
Property Management
Social Services
Estate Planning
Housing Administration
Client Relations
Risk Management
Compliance
Document Management
Real Estate Lawyer
Property Manager
Estate Planning Attorney
Social Worker
Elder Care Coordinator
Housing Officer
Legal Counsel
Trust Administrator
Property Rights Specialist
Retirement Home Manager
Social Housing Coordinator
Family Estate Planner
Residential Property Administrator
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