Continuing Care Retirement Community

Definition of "Continuing care retirement community"

Retirement center with a focus on group living arrangements for senior citizens. The center has separate apartments for each resident as well as an on-site nursing facility. Generally, these centers are quite expensive; they require monthly fees as well as a one-time payment (entrance fee). The monthly fee entitles the inhabitant to an apartment, one to three meals a day (depending on the facility), maid service (in some facilities), medical service (if needed), and nursing home care (also, if needed).

Search Real Estate Glossary

Related Real Estate Glossary terms

Accident Insurance

Coverage for bodily injury and/or death resulting from accidental means (other than natural causes). ...

Termite Inspection

Inspection required in certain types of sales of property to determine if termites are present withi ...

Insurance Rate

Amount charged to an insured that reflects expectation of loss for a covered risk; and insurance com ...

Musical Instruments Insurance

Coverage for musicians and other providers of musical services such as musical instrument dealers. M ...

Tax And Insurance Escrow

When a mortgage loan is provided to a borrower, the lender establishes a fund called a tax and insur ...

Occupational Accident

Work-related accident. Occupational accidents that injure employees are the responsibility of the em ...

Related Real Estate FAQ

What Is A Buydown?

A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate be ...

What Is A Basic Policy?

A basic policy is a homeowners insurance policy that covers certain perils. ...

What Is A Lock In?

A lock in guarantees a certain interest rate for a certain period of time. ...

What Is A Fixed-rate Mortgage?

A fixed-rate mortgage is a type of mortgage in which the interest rate is fixed for the life of the ...

What Is A Mortgagee?

A morgagee is the lender. ...

Do I Need Life Insurance?

Whether you are a .boomer. an .X-er. or an .empty Nester. it is never to or too late . to think abou ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Getting Ready to Sell? Don't make these DIY Mistakes! What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? When to buy a house How To Choose A Realtor Mortgage Loan Types

FAQ

What does an appraisal mean? What are the Benefits of Liability Insurance? Should I Consolidate My Debt? What do I need to know about Group Health Insurance? What is an assessed value?