A lease by a life tenant only, will be registered on the folio for the life estate where a separate folio exists. Where the life estate and estate in remainder are contained in one title the lease notification will state:
'Lease To [lessee] From [life tenant] For The Life Of [life tenant] ...'.
Upon cessation of the life estate the lease will be cancelled without fee.
A life tenant can grant a lease that is binding on the remainderpersons even though the remainderpersons are not a party to the lease. The lease must not exceed a term of 10 years, including any option to renew, and must be accompanied by a statutory declaration by the lessor or lessor's solicitor stating that the lease complies with s68 Conveyancing and Law of Property Act 1898.
The lease is entered on the folio(s) for the life estate and the estate in remainder, and the notification will state:
'Lease To [lessee] Pursuant To Part IV Conveyancing and Law of Property Act 1898 ...'.
The lease remains current even though the life tenant may die or determine their estate before the expiry date.
See Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [285.800].