If my spouse and I are under 55 but have no children living at home, can we buy property in 55-plus / retirement communities? If not, does this restriction vary from state-to-state? How does the 20 precent rule apply to these communities?
This is basically a federal provision allowing for special treatment of over 55 people. The Community owner can only advertise as 55 and over if at least 80% of the people living there are 55 or over. There is a lot of fine print. I had to research this when as a Realtor I purchased a 55 and over MHP and wanted to know how the Fair Housing laws would allow such a restriction.
Good Morning,
That is a good question can you buy a property in 55 plus communities? Again
it depends on the communities in our area they allow if you are married and you
your husband or wife is over 55 that is ok. But it depends on the communities.
I sold one in the our communities before the wife is under 55 and husband is
over 55 years old.
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