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Reply to "CCRC buy in refund"
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[quote=Anonymous]Yes we eventually got my father's 100% entrance fee refunded from a CCC after he died. Was it a nightmare - more like a bad dream since the community director was not very responsive but we did get it about 8 months after he died and we presented the executor's papers to him. Contracts are different between CCCs and even within them. (He had a 100% refund in his contract.) You need to understand the specific contract terms for when the entrance fee will be refunded (e.g. his "leaving the facility" and his last independent unit had to be re-rented) and what happens as they move to higher levels of care (no partial refund as he downsized units or moved to the nursing facility and in his contract none of the entrance fee was used for his care.) During Covid, his community's occupancy rate decreased and even after he had moved to the nursing facility for over a year, his apartment was still vacant when he died. We had no insight if the sales team was even showing his apartment after he vacated it during this time period. I have heard of other communities where the name goes on a list and the refunds are processed in order as new residents move in (ie it doesn't have to be your specific unit). Another case I know of is a friend's mother died within a month and even though unit was re-rented the person moving in had an installment plan that allowed her to pay the entrance fee over a year and the friend didn't get the refund until the full entrance fee was paid. My strong advice is to make sure you have a copy of any contract your relative signs since you will be most likely dealing with the community.[/quote]
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