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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
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
The date by which the Trusts Bill is to be reported to the House by the Justice Committee has been extended a second time, now to 1 October 2018. References: Business of Select Committees — Reporting Dates
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
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
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
Trusts are commonly used for secession planning providing, at least conceptually, for long-term asset ownership that will not be disrupted by death. That’s the theory anyway. However, the passage of time and the appointment and removal of trustees can mean that once harmonious relationships and arrangements are no longer so. The decision in Guest v … Continue reading
As noted in Van Boxel v Van Boxel at [4] “The application arises in what are familiar circumstances to this Court. The Trust owns a number of properties of which all three trustees are registered proprietors. Although Mr van Boxel holds enduring powers of attorney from his wife it is a matter of record that … Continue reading
Glasgow Harley Trustee v McLaughlin relates to an application for orders approving the trustees’ decision to defend proceedings against them. As noted at [3]: “Applications of this kind are commonly referred to as Beddoe applications. A succinct description of a Beddoe application appears in Garrow and Kelly Law of Trust and Trustees: The general rule is … Continue reading
CIR v Robertson relates to the recovery of GST paid by the Commissioner of Inland Revenue from the liquidator of corporate trustee Hukatere Coastal Trustees Limited (Hukatere) that received the GST in question. The case is a relevant reminder of the importance of recognising the corporate aspects of trustees and the risks to liquidators when … Continue reading
Matters of Trust 