The meanings attributed to terms set out for the purpose of explanation only and are not necessarily valid legal definitions for other purposes.
Where precise definitions are sought appropriate statutes or authorities should be studied. See Greg Stilanou, Land Titling Law and Practice in NSW, Lawbook Co. 2013 [Definitions on pages xxvii – xxxi].
Fee Simple: The greatest estate in land that can be held against the Crown. It is characterised by its inheritability, ie it is capable of being passed to heirs and/or assigns for ever or for so long as an owner can be found. The estate may be passed by a Grant from the Crown, a deed, a transfer or by will or devolution of law etc.
Fiduciary: A person who is under an obligation to act in another person's interest, e.g. a trustee, executor or administrator.
First Schedule: The part of a Torrens folio which sets out the ownership details (names of the registered proprietors, shares etc.)
Folio Instruction: A direction from Crown Lands NSW, on how a new Torrens title for land held by the Crown will issue - replaced the traditional Crown Grant.
Folio of the Register: A folio is a page of the land Register. The record of title and interests, in respect of a parcel or parcels of land, kept by the Registrar General as part of the Register. A folio may be either a 'computer' folio (stored in LPI's computerised system) or a 'manual' folio (created originally on paper).
Freehold: The status of land held under an estate in fee simple following alienation from the Crown.