14 Aug 2013
PIERCE v SPARGO [2013] NZHC 2055
- Citation
- [2013] NZHC 2055
- Court
- High Court
Although Pierce was registered as a joint proprietor, the evidence established an enforceable shared understanding that Ian and Helen would take the existing dwelling for $100,000 and Pierce and Jennifer would be responsible for acquiring and financing the vacant lot and building 24A. Ian and Helen paid substantially more than they contracted to and by the balance of probabilities Pierce and Jennifer hold no lawful interest in 24 Hiwi Crescent. Accordingly the Court declined to exercise its discretion under s 339(1)(b) to order division; the property is owned solely by Ian and Helen Spargo.