What is the difference between a Freehold village, and Leasehold, Loan/Lease, and Loan/Licence villages?
The two main differences are firstly in Freehold villages the resident owns the unit, and the land beneath the unit. The second difference is that Freehold villages are governed by the Body Corporate and Community Management Act 1997 (Qld) [BC & CMA] in addition to the Retirement Villages Act 1999 (Qld) (RVAct) which governs ALL retirement villages.
Under the BC & CMA Freehold villages must have a Body Corporate Committee, and may also have a Residents’ Committee. The two committees have different roles and responsibilities under the two Acts.