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The decision in Judd v Hawkes Bay Trustee Company Limited (see Another tributary in the trickle of constructive trust cases) has been upheld on appeal. By way of background Richard Hodgkinson and Michelle Judd were married for six and a half years. Over that period they lived in a property in Lane Road, Havelock North, … Continue reading
The Property (Relationships) Act 1976 (the Act) is now under review as part of a significant project that will involve consultation with the public and key stakeholders. The outcome of the review is to be reported back the Minister of Justice in November 2018. See Law Commission to review Property (Relationships) Act 1976. Not surprisingly … Continue reading
The long-awaited decision (issued in fact as two separate decisions) in Clayton v Clayton were released today (23 March 2016). The first decision relates to the Vaughan Road Property Trust (VRPT) and the second to the Claymark Trust. Background Mr and Mrs Clayton commenced a de facto relationship in 1986 and married in 1989. They … Continue reading
Relationships end. Sometimes badly. Few amongst us can remember what we saw in the other. Usually we move on. Bruises are dusted. The property is divided up, each thinks the other got more than they should have. Some of us are made of stronger stuff. Relationship property assets under the control of a single party to the … Continue reading
When who stopped loving who first is lost to the antiquities of time, for modern lovers there is still the trust to keep them shackled together. And what a shackle, and what expense… Whittle v Whittle is another tale of love lost but the Trust, if not the trust, remaining. In this case the pesky … Continue reading
The expression “Beware Greeks bearing gifts” as been attributed to the story of the wooden horse of Troy, used by the Greeks to trick their way into the city. It is recorded in Virgil’s Aeneid, Book 2, 19 BC: “Do not trust the horse, Trojans. Whatever it is, I fear the Greeks even when they … Continue reading
While recent headlines might lead one to belive that trusts are falling down in the face of relationship failures, closer inspection would suggest that in fact this is not commonly the case. There appears to be a significant distinction between trusts where both spouses or partners are settlor/trustees and cases where only one spouse or partner … Continue reading
The long awaited Court of Appeal decision on the subject of illusory trusts should make unsettling reading for many a settlor, and perhaps their advisers too. The decision, which runs to 96 pages is substantial. The message is mixed. While the trust in question was found to be valid (illusion it turns out, is just … Continue reading
The relationship between trusts and relationship property agreements requires careful attention. Whether or not trustees can or should be party to a relationship property agreement is one of many important considerations. Another consideration is how debts owing by trustees should be treated for relationship property purposes. Importantly, if there is no relationship property agreement (and assets are … Continue reading
Following the end of a relationship “going it alone” is a practical reality. However, where a trust was settled during the relationship, the extent to which one can “go it alone” needs to be carefully assessed. This reality, and the consequences of failing to address it are highlighted in the High Court decision in Nichols … Continue reading
Matters of Trust 