Entrance fee means money paid in a lump sum or installments or property transferred pursuant to a continuing care agreement before initiation of continuing care for 1 or more individuals and that confers the right to the continuing care.
Entrance fee means a once off fee payable to obtain membership of the co-operative, and is paid on application for membership;
Entrance fee means the sum of any initial, amortized, or
Examples of Entrance fee in a sentence
Entrance fee is $100.00 per player (with a minimum of 2 players per boat) and $50.00 per guest.
More Definitions of Entrance fee
Entrance fee means the sum of any initial, amortized, or deferred transfer of consideration made or promised to be made by, or on behalf of, a person entering into a continuing care contract for the purpose of ensuring care or related services pursuant to that continuing care contract or as full or partial payment for the promise to provide care for the term of the continuing care contract. Entrance fee includes the purchase price of a condominium, cooperative, or other interest sold in connection with a promise of continuing care. An initial, amortized, or deferred transfer of consideration that is greater in value than 12 times the monthly care fee shall be presumed to be an entrance fee.
Entrance fee means any fee or charge, including a damage deposit, paid by a person to a residential nonprofit corporation in order to become a resident member. "Entrance fee" does not include regular periodic payments for the purchase or lease of residential real estate or for the day-to-day use of facilities or services.
Entrance fee means a payment that assures a resident a place in a facility.
Entrance fee means an initial or deferred transfer to a
Entrance fee means an initial or deferred payment of a sum of money or property which assures the member a place in a facility for 1 or more years or for life.
Entrance fee means the total of any initial or deferred
Entrance fee means an initial or deferred transfer to a provider of a sum of money or other property made or promised to be made as full or partial consideration for acceptance of a specified individual in a facility if the amount exceeds either of the following: