Life Lease Explained
Purchasers of a Meadows of Aurora independent living suite secure the exclusive right to live in their suites for as long as they wish. The life lease model allows The Meadows, as a non-profit sponsor, to establish and maintain a 65+ community of people who share the same interests and values. Life lease owners participate in maintaining our property and amenities through a condo-like monthly occupancy fee.
Purchasing & Selling a Life Lease
The buyback model allows owners to sell their life lease interest back to The Meadows and receive the original purchase price less a 6% transfer and refurbishing fee.
The market model allows purchasers to sell their life lease interest to a Meadows-approved buyer at current competitive prices and receive 90% of the proceeds.