This tag is associated with 6 posts

My house? Your house?

Much is said of late about the “bank of Mum and Dad” in the context of parents helping children into their first home.  However, with the passage of time positions can change as to whether sums advanced were loans or gifts and how much has been re-paid.  When Mum or Dad is elderly questions can … Continue reading

What’s in a name?

References to executors and trustees are routinely combined and treated as synonymous with each other.  But are they?  Actually they are not.  While the distinction is often unimportant, in certain circumstances it is critical. The executor’s duties include obtaining a grant of probate, getting in all of the assets, paying outstanding (and future) debts including … Continue reading

Disappointed beneficiaries

Blended families pose numerous challenges.   On the death of a parent balancing the needs of that parent’s children and a surviving step-parent can be challenging.  Add a trust and some last-minute asset and estate planning into the mix and the potential for conflict increases. Consider the position of the children who believe themselves to be … Continue reading

Result of resulting trust argument unjust but correct

Caveats can be useful for preventing property being transferred when it might defeat the caveators real ability to recover a debt owing or the due return on an unregistered property interest. However, to maintain a caveat it is necessary to show not only a debt or interest, but also how this debt or interest is connected to … Continue reading

Contracting with trustees, all of the trustees

The facts ma’am, nothing but the facts.  When the facts relate to a contract with trustees, the proposition becomes the trustees ma’am – nothing less than all the trustees. Trusts are not legal entities.  Regardless I commonly see contracts between the A Trust and another contracting party.  This is a dangerous practice because how is … Continue reading

Unsuccessful claim of constructive trust on account of work carried out

The recent case of Three Chicks  v NZ Building Projects raises the novel question – can a remedial constructive trust be claimed in respect of work carried out under a contract? By way of background Three Chicks, the owner of a property, assigned a building contract to NZ Building Projects. Following the completion of the … Continue reading