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Generosity can have its limits

A grandfather, Mr Greenwood, told his grandson that he could buy his house for $300,000 after his death. He expressed this wish to others, including his daughter (mother of the grandson) who was one of the executors of his estate, although it was not in his 2005 will. This occurred in Christchurch before the Earthquakes … Continue reading

Not very hidden

New Zealand may seem a long way away from the rest of the world.  However, as demonstrated in Trident Trust Company (NZ) Ltd v Bozo, not so far away as might be thought.  The case involves a New Zealand trustee of a trust settled by a non-resident settlor for the benefit of himself his wife and … Continue reading

Marriage, divorce, death – but strictly in that order

Section 182 of the Family Proceedings Act 1980 (FPA) can be considered a vexing piece of legislation in that it has application only for spouses and civil union partners. Whether this will continue to be the case may become apparent following the outcome of the ongoing five year review of relationship property and related legislation. … Continue reading

A cleft in the armour of joint ownership?

When two people own a property jointly, what is legally referred to as being joint tenants (as distinct from tenants in common, where each party owns only a set percentage of an asset), and where one of the two joint owner dies, the survivor inherits the interest of the other joint tenant. There is no … Continue reading

Finding the right way

Fox v Fox relates to a claim by an executor of the estate of Mrs Fox who required the assistance of the Court to conclude the administration of the estate by selling land and distributing the proceeds of sale according to a will. The executor’s impediment to doing so was that two of the properties … Continue reading

Trusts Bill update

The date by which the Trusts Bill is to be reported to the House by the Justice Committee has been extended to 5 September 2018. References: Business of Select Committees — Reporting Dates

Rival contenders as trustee

Trainer v Leake involves a contest between “rival contenders as trustees of a religious trust.” Background The Hawkes Bay Revival Centre is a church founded in 1986. It is run under the auspices of the Hawkes Bay Revival Centre Trust, a trust established by Trust Deed to hold real and persona; property “for the benefit … Continue reading

Once there were ten, now there are six – but the trust argument is avoided

Land owned by ten different owners as tenants in common was sold to a buyer who was required to apply for resource consents to subdivide the property and to obtain new titles. There was a dispute and following a settlement conference Harrison J ordered that on titles being issued the owners were to transfer one … Continue reading

Another Charitable Trust needs attention

By her will, Emma Ann O’Connor, who died in December 1937, left the residue of her estate on trust for certain specific purposes: “(a) For the repair and painting of the Waimea Catholic Church at regular intervals as may seem necessary and expedient to my said trustees; (b) In the upkeep and maintenance of the … Continue reading