I am a life tenant in an estate. I received this benefit through a will about 5 years ago. I just posted a question in this forum about my status as owner or tenant for insurance purposes. I have a second more general question about life estates.
Before posting on this forum, I rang the NSW Land Titles Office to find out who is the registered owner of the property. I was informed (1) The Certificate of Title is currently held by the solicitor who handled the will. (2) The registered owners of the property at the present time are the two executors of the estate as joint tenants. I am one of those executors.
My understanding is that the Certificate should show my status as a life tenant. Shouldn't the solicitor have done this? If this is the case, how serious is this as an error on his part? Is it OK to just leave things as they are?
Before posting on this forum, I rang the NSW Land Titles Office to find out who is the registered owner of the property. I was informed (1) The Certificate of Title is currently held by the solicitor who handled the will. (2) The registered owners of the property at the present time are the two executors of the estate as joint tenants. I am one of those executors.
My understanding is that the Certificate should show my status as a life tenant. Shouldn't the solicitor have done this? If this is the case, how serious is this as an error on his part? Is it OK to just leave things as they are?