An examination of life lease housing issues

A life lease is a legal agreement that permits purchasers to occupy a home for life (or until they are no longer capable of living there) in exchange for an initial lump sum payment and subsequent monthly payments. Because this is a new form of tenure there exist consumer protection issues related to life lease housing. This research involved 15 case study site visits to life lease developments in provinces from British Columbia to Ontario. The researchers interviewed sponsors of the developments and held focus group sessions with residents in each residence. Interviews were also conducted with others knowledgeable about various aspects of life lease development. Based on this information, a number of recommendations are put forward regarding methods to improve consumer protection for residents and sponsors.