| ajbrown |
01-19-2014 08:33 PM |
Off topic, ,unimportant, but just for clarity
Quote:
Originally Posted by mulligan
(Post 814050)
Anybody over 19 can be a resident/renter. Only 80% of owners need to be over 55. One person on the deed over 55 fulfills the requirement.
|
The over 55 law and 80/20 rule has nothing to do with 'ownership'. As I understand the law, it is based on the age of the occupants. See here as one example:
• Finally, there is often general misconception that ownership of dwellings in adult communities is subject to the
applicable age restrictions. To the contrary, only occupancy is restricted, not ownership. Indeed, it is not
uncommon for children to purchase homes in the adult communities for their parents to enjoy. Taken from: http://www.greenbaumlaw.com/Rsc_File...e=687N57E22I45 |
