Use this granny Flat agreement whenever you want to create a life tenancy for a close friend or relative in exchange for a fee.
The Owner grants the Resident the right to reside in the property for life. The agreement sets out in clear terms;
- the residents right to live in the property for life.
- whether the resident has agreed to pay rent or undertake certain upkeep of the property.
- how the owner of the property will compensate the resident if there is a significant change in circumstances.