Family of Alberta life lease holder still waiting on more than $300K after her death
A local woman is speaking out in the wake of new life lease legislation introduced by the Alberta government.
Judy Kunz says her mother Barbara Ursulak died after waiting a year to get back more than $300,000 from her life lease.
The family is still waiting.
A life lease is an arrangement that allows residents to pay a large lump sum as a loan to a company in exchange for an apartment at an assisted living style facility.
The money is supposed to be returned to the resident when they leave the building.
The Alberta Life Lease Protection Society represents former life lease residents who say they’re owed tens of millions from Edmonton-based operator Christenson Developments.
To address those concerns, the Alberta government introduced Bill 12, the Consumer Protection (Life Lease Protection) Amendment Act, but Kunz and the organization say it doesn’t go far enough.
Kunz said her mother entered into a life lease with Christenson Developments after the death of her husband in 2014.
“She was into her 80s and she was finding it too difficult. The house was aging and it was too much for her to handle,” Kunz told CTV News Edmonton on Thursday.
She says her mother came across the life lease program at a new Christenson Developments building.
“It was her neighbourhood, she could continue to go to her church, she could drive around to the shopping that she knows, and go and visit her friends that live in her own neighbourhood.
“And we’ll get the money back once she doesn’t live there anymore.”
Ursulak ultimately put down $323,760 for a life lease.
Kunz says on March 1, 2022 the family attempted to terminate the life lease effective June 30 after her mother had a fall and could no longer live independently.
She died in 2023.
The family initially received $16,188 back, but have yet to receive the rest of Ursulak’s money.
“They don’t answer the phone. They don’t answer your emails. I have gone to the office and they stood there and they’re just like, ‘We can’t talk to you.'”
“There’s something wrong here. How come we don’t have our money? We have no money. We have no condo. We have no revenue from a condo.”
Kunz says she’s disappointed by Bill 12, arguing that it fails to protect existing life lease holders.
“Going forward it’ll be fixed, hopefully. But for us, nothing.”
Group says legislation favours operators
“We are unable to go back and rewrite contracts but that doesn’t mean that these people are not front of mind – because they absolutely are,” Dale Nally, the minister for Service Alberta and red tape reduction said.
Nally says the bill will require operators to return entrance fees within 180 days of a lease ending.
If the fees are not repaid, penalties could be introduced.
“If the NDP wants to put any amendments forward, we’ll look at any thoughtful amendments and debate them in the house,” he said.
The Alberta Life Lease Protection Society not only wants to see the legislation made retroactive, but for funds to be held in a secure trust.
“We are in this strange position where we are fighting the minister who is supposed to be helping us. He is the one who is throwing us under the bus,” Jim Carey of the Alberta Life Lease Protection Society told CTV News Edmonton on Thursday.
Carey also says the minister has grossly inflated claims he consulted with the group.
“He is completely disingenuous saying he wants to work with seniors. This legislation is tilted completely to benefit the operators.”
Greg Christenson, the president of Christenson Developments sent a written statement to CTV News Edmonton on the claims by Kunz.
“We continue to work diligently on a solution in the background and understand it is not happening as quickly as some may hope. Christenson remains committed to returning all life lease loans over time.”
Kunz has some advice for anyone else who may be considering a life lease.
“If anybody hears the word life lease, they should run.”
With files from CTV News Edmonton’s Chelan Skulski
View original article here Source
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