New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Gifting

  • 30 Sept 2019

    TN v AK [2019] NZHC 2466

    Citation
    [2019] NZHC 2466
    Court
    High Court

    The Court held that the $335,000 advanced by the Ns gave rise to a resulting trust such that TN and AK jointly hold a 35.8% beneficial interest in the Property for the second appellant; $57,000 of AK's savings at separation is relationship property and $24,000 remains her separate property; excluding the Ns' share and assessing contributions globally the net relationship property is to be divided 60% to AK and 40% to TN; the Family Court's occupation rent order was quashed and interest at 5% p.a. awarded on any final sum due to AK from commencement of Family Court proceedings to date of judgm…

  • 1 Apr 2019

    KUMAR TRUSTEE CO LTD v VENUGOPAL CHAWDRAPU [2019] NZHC 649

    Citation
    [2019] NZHC 649
    Court
    High Court

    Although Kumar Trustee Ltd held legal title, the parties’ conduct and documentary record (notably the 11 January 2010 gifting letter and consistent payments by the defendants that reduced the mortgage and met outgoings) established a common intention and gave rise to an institutional constructive trust such that the defendants were the beneficial owners of the equity in the property; consequently there was no enforceable vendor loan of $211,136.89 and the plaintiff’s debt claim failed.