Registering a life interest

[LOUIMAC]

Can a transfer of Legal Personal Representatives to Life Interest and Remainder Person be created in PEXA ?

[VesnaVranjes]

Hello Louimac,

Hope you have been well.

There are a number of lodgement rules (Waivers) given by the Registrar General - please check which one is most applicable for your scenario:

https://www.registrargeneral.nsw.gov.au/publications/lodgment-rules

Once you have located the appropriate waiver proceed to lodge the document following the Dealing with Exception process (help card is located at the bottom of the Help Centre link):

https://community.pexa.com.au/t5/Help-Centre/Residual-Documents-Help-Centre/ba-p/14746

Note: don't forget to include the NSW Land registry Waiver form: https://www.nswlrs.com.au/getattachment/fdff7b22-78bb-4c75-a51e-37dc572fd57b/attachment.aspx

Kind regards

Vesna Vranjes

Team Lead Customer SuccessHub

[KevinJohnson]

For Queensland, the titles practice manual says the following:

"Under the Trusts Act 1973, a life tenancy is regarded as ‘trust property’. The creation of a separate indefeasible title for an interest for life is not permitted.
The life estate is recorded by way of a transfer to the life tenant stated in Item 5 without reference to the trust.

The land remains in the name of the registered owner and reference to the creation of the life estate by the transfer will appear in the Easements, Encumbrances and Interests section of the title."

[LOUIMAC]

Hi Thank you but I am in Victoria.   Are you able to advise what the process is here.

[VesnaVranjes]

Hello Louimac,

So sorry, your location is coming up as NSW.

Unfortunately life estates are classed as "interest folios", so they can't created  in PEXA, but you can be completed as a S104 paper lodgement via PEXA. Please contact Vic Land Registry on which documents need to be lodge. 

For more information please see the below link:

https://community.pexa.com.au/t5/Victoria/Land-Use-Victoria-Guide-to-submitting-a-paper-transaction-...

Kind regards

Vesna Vranjes

Team Lead Customer SuccessHub

[LOUIMAC]

Thank you.

[Jacqueline]

Hi all

How do I record a life interest on title in Victoria, while all parties are alive.

The Scenario is: Son is buying parents a property.

To protect parents I would like to registered a Life interest.