Along Peru’s rainforest rivers, rising flood extremes are increasingly exceeding coping capacities of vulnerable households. Peru has detailed legislation that embraces planned relocation as a strategic solution to such situations and various relocation projects are underway across the country. This research brief analyzes well-being consequences for two communities requesting relocation, using qualitative data collected from experts and 30 affected people. Initial results emphasize that weak governance, poverty, third-party involvement, and community action have influenced relocation outcomes. Delays and fragmented implementation have threatened people’s well-being. One community, waiting for land to relocate since 2015, has suffered from continued hazard exposure, deteriorated material conditions, and reduced subjective well-being. The second community achieved relocation only after a decade in detrimental limbo. Although livelihood challenges persist, its inhabitants now benefit from better market access and decreased exposure, leading to higher subjective well-being. With rising needs for relocation worldwide, the cases highlight that detailed legislation is not sufficient to safeguard people’s well-being. Advancing from well-meant legislation to good practice requires adequate institutional capacity, effective mechanisms for oversight and accountability, better engagement of third parties, and dedicated efforts to strengthen community agency.