All Liquid technologies XML objects are reference counted. Anything using the object should take a reference to it. When they are finished with it the reference may be released.
When the last reference is released the object is deleted.

All objects within the Library should return 'smart pointers' that wrapper the object itself.
These smart pointer behave the same as the MS _com_ptr_t. Allowing you use the objects without worrying about reference counting.

See Smart Pointers for a full discussion of referencing, and object lifetimes