Finally, a practical reflection that touches on the interests of life. The granting of a simple interest in the life of a spouse may entitle him to another provision under Part IV of the Administrative and Estate Act of 1958 (Vic). It is now recognized that a vital interest is not sufficient for the spouse of a long marriage.9 While it is permissible for a tenant to be one of the two agents of the life lease, it seems unwise to include him in the drafting of a will. If an agent of the colony were to resign, another agent would have to be appointed. If this were not the case (by omission or development), the subdivision would be exclusively in the hands of the tenant, which would lead to the above scenario. If the surviving spouse dies, the house is sold and distributed to each spouse`s estate. If the property is held in common name, neither party can leave a life interest in their share of the property, as it is automatically ceded to the survivors after the death of the first of them. At any time during the lifetime rent, other beneficiaries and the tenant of life can negotiate to cancel the rent for life, usually with a payment to the tenant of life. Alternatively, if all other beneficiaries agree, the house can be sold and another house, perhaps more appropriate, can be purchased through which the lifetime rent remains. In these circumstances, legal advice should always be obtained.

The common settlement of land, to which the law applies, is an interest in maintaining life created by will. The interests of life are likely to become more frequent, as the deceased, in second marriage wills, leave an interest in the family home to their current spouse and the rest to the children of a previous marriage. An interest in life is a way to ensure that your surviving partner is cared for throughout your life, while ensuring that your share of ownership and/or assets is transferred to your children. The son of the scenario was required to appoint a second agent of the transaction, who had to act with him in accordance with the s30 (3) of the law. His son`s lawyer negligently advised him to do so. Until the son appointed a second agent, he could not exercise any of the powers of a tenant for life under the law without obtaining a court order: s20.