Residents claim “Aveo Way” took away the valuable right to sell on the same terms as they bought

Updated: May 21, 2020

Class Action proceedings are well advanced against Aveo, on behalf of current and former Aveo residents, who claim the introduction of the “Aveo Way” contract from at least 2015, saw Aveo take away their right to pass on their capital gain entitlements, without Aveo paying them anything for the right.It also meant that new residents would have to pay more earlier, it they left the Village within 3 years.


Good News:  The Class Action now covers not only former and current freehold owners but also 99-year leaseholders as well (and where appropriate their estates) - even though, in reality, no one has more than a life estate, whatever interest they think they purchased.


The numbers support the Class Action: In the 2017 Financial Year alone, close to $100m was transferred from Owner Residents to Aveo’s balance sheet, to reflect the one-sided benefit which Aveo obtained from its “new and ‘better’ contract terms.”

 

If you want to hold Aveo to its promise, so that you  can “live your best life” and receive regular reports,  we invite you to sign up with Class Action lawyers , Levitt Robinson.

Contact Class PR for more information on how to participate.

(02) 8267 9499 contact@classpr.com.au


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Level 3, 162 Goulburn Street, Sydney 2010

02 8267 9499

contact@classpr.com.au

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