VIC VCAT - Explanation of Property Title "Folio"?

[RazzleDazzle]

Hi there,

I am a VCAT appointed administration and guardian for my cousin "Joe Blow" with disability. When his mother died with a large estate, his stepfather "John Smith" purchased a property for him with an "Estate Life" mentioned in it. My mother moved into the property in 2002 and took on the full-time care of Joe, her nephew, until her death in 2010, and then Joe came to live with me and my family. Whilst alive, my mother paid for the rates and utilities, as they were in her name.

The property has just been used as a weekender since 2010 and I have kept up the payments of the rates in the name of my mother's estate and the utilities in my name.

I wanted to renovate my home further, as Joe's cognitive and physical functionality has some special requirements as he is ageing. As Joe's stepfather lives in another state and has never had any contact or provided any other assistance since Joe's mother died, I would like to know if anyone can provide me with advice as to whether I have any legal standing to sell the home to help fund his needs.

The title of the property has 2 "Folio" numbers against the volume eg. Volume 12345 Folio 111 and Volume 12345 Folio 112.

Folio 111 has the against the Registered Proprietor section: Estate Life. For The Life Of Joe Blow of 2 Smith Street. Sole Proprietor Joe Blow.

Folio 112 has against the Register Proprietor section: Estate Fee Simple in Remainder. Expectant upon the determination of an estate for the life of Joe Blow of 2 Smith Street. Sole Proprietor John Smith.

Does Joe actually own the property?

Thanks in advance for any guidance.

 

[RazzleDazzle]

wish I could fix the typo in the title... ooooppss

 

[Rob Legat - SBPL]

Is this a real circumstance, or a ‘homework question’?

 

[RazzleDazzle]

Hi Rob,

Unfortunately this is real life... well past homework.

 

[Rob Legat - SBPL]

Okay. Firstly, I don't practice in NSW and each state has its own titling rules - so things may be a little different, but the gist should be the same.

A life estate grants a form of ownership for the life of the person (Joe), but it reverts to someone else (John) when Joe's life ends. While Joe is alive, they have to right to do almost anything an owner can do, such as rent out the property and keep the payment, except create an interest in the property which will survive their death or sell it to a another person (which effectively is the same as creating an interest which survives their death).

Short answer is you aren't able to sell the property. But the property can be rented out and that money used for Joe's benefit.

Here's a page that might give you more information: Life estates - Registrar General's Guidelines

 

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