Financial Options

The WIllows

50% Refundable Life Occupancy Contract (50% LOF Buy-In)*

Resident pays the applicable 50% Refundable LOF Buy-In fee for the duplex selected along with the applicable monthly service fee. A refund of 50% of the LOF Buy-In fee shall be made under the following circumstances:

• Death or Termination: Upon the death of Resident(s) or termination of the Life Occupancy Contract as defined in the contract, a refund of 50% of the LOF Buy-In fee will be made.
• Permanent Transfer to Martin Health Center:

1) If Resident is permanently transferred to Westminster Village’s Martin Health Center in accordance with the contract and Resident surrenders their duplex, Resident shall be entitled to a refund of 50% of the LOF Buy-In fee. This refund will be applied as a monthly credit against charges accrued at Martin Health Center. Should death or discharge from Martin Health Center occur before the full refund is used, the balance shall be refunded as set forth in the contract.

75% Refundable life occupancy contract (75% LOF buy-in)*

Resident pays the applicable 75% Refundable LOF Buy-In fee for the duplex selected along with the applicable monthly service fee. A refund of 75% of the LOF Buy-In fee shall be made under the following circumstances:

• Death or Termination: Upon the death of Resident(s) or termination of the Life Occupancy Contract as defined in the contract, a refund of 75% of the LOF Buy-In fee will be made.
• Permanent Transfer to Martin Health Center:

1) If Resident is permanently transferred to Westminster Village’s Martin Health Center in accordance with the contract and Resident surrenders their duplex, Resident shall be entitled to a refund of 75% of the LOF Buy-In fee. This refund will be applied as a monthly credit against charges accrued at Martin Health Center. Should death or discharge from Martin Health Center occur before the full refund is used, the balance shall be refunded as set forth in the contract.

*To the extent any portion of the LOF Buy-in fee is used during Resident’s residency due to inability to pay the monthly service fee, only that portion of the unused LOF Buy-in fee will be available to be refunded.

*Successful completion of the financial qualification process is required prior to entering into a 50% Refundable Life Occupancy Contract or 75% Refundable Life Occupancy Contract.