Protein involved in sphingolipid homeostasis; forms a complex with Cvm2p; contains an α/β-hydrolase fold but may function as a pseudoenzyme; proposed to bind PI(3)P to target the complex to the vacuole; overexpression of Cvm1p-Cvm2p generates extended vacuole, peripheral ER contacts; localizes to vacuolar contact sites with mitochondria, the nucleus and peroxisomes; ubiquitinated; paralog of CVM2; relative vacuolar membrane distribution changes upon DNA replication stress