> contracts for “lifetime care” like the one Jacques signed were considered unconditional under the previous owners <
Most of these contracts require the resident to sign over large sums of money in return for the lifetime care guarantee. Sometimes it’s all their money. So, yeah. That really is a contract, as both sides gave up something of value.
I can’t see how changing the owners would matter in the least.
And as a side note, just when I get comfortable hating lawyers along comes a story like this. I hope the lady gets a good lawyer.
I have seen these “lifetime guarantee” arrangements before—and they generally work out fine for everyone.
The incentive structure gets me kinda nervous—I don’t like the idea of making some big corporation highly motivated to want me dead.
:-)
Actually, I remember someone a number of years ago, that went into a facility, and they had to agree all their estate went to the facility, and their family inherited nothing.
So it gets more complicated. Apparently the prior owner went bankrupt. When buying a bankrupt company, the new owner generally acquires only the assets but not any liabilities. But I have seen claims that the new owner specifically agreed to honor all prior contracts with residents as a condition of the bankruptcy sale. It is hard to say what is actually true with these stories. Either way, it sucks.