Financing for a Life Lease differs from a traditional mortgage because the owner of a Life Lease does not hold title to the suite. More and more financial institutions are becoming familiar with the security in a Life Lease contract and are willing to discuss financing options.
We have arranged for Cascade Court residents to be covered by a policy from
Co-operators Insurance designed exclusively for Life Lease living. You are
welcome to arrange your own insurance coverage with any company, but this option
is made available for your benefit at a comparable cost. For more information, please contact our administration office.
In order to ensure that your wishes are carried out, you will be asked to provide copies of certain legal documents in order to protect your interests, your family members and our staff. While it is not a requirement for purchase, we actively encourage residents to obtain a Power of Attorney and appoint an Executor.
Power of Attorney
Authorizes one or more members of your family to act on your behalf with the Administration office.
Proof of Executor
The front page of your will names the person or persons who will act as executor of your estate; this may or may not be the same person(s) acting as your Power of Attorney. As Power of Attorney ceases at the time of death, only the executor will be granted access to your suite.