10 Feb 2017
ZHANG AND LI v LI [2017] NZHC 129
- Citation
- [2017] NZHC 129
- Court
- High Court
On the facts the parents never intended to confer beneficial ownership; the transfers of $335,500 were an interest-free loan repayable on demand, which displaced any presumption of advancement; accordingly the loan is repayable from the proceeds of sale of the family home and the remaining proceeds are to be split equally.