Summer services update
Example 1: Brian, Rosalind and Michael
Brian Tweedie, Rosalind Tweedie and Michael Hanson jointly own a ½ share in the affected title and TH Holdings Limited owns the other ½ share. Rosalind is transferring her share equally to Brian and Michael.
Existing shares
- Brian Tweedie, Rosalind Tweedie and Michael Hanson jointly own a ½ share.
- TH Holdings Limited own a ½ share.
Transferring shares to
- Rosalind is transferring her interest in the ½ share equally to Brian and Michael. Rosalind is therefore transferring ⅓ of a ½ share, or a ⅙ share.
Remainder
Transferring Rosalind’s interest in the ½ share with Brian and Michael will break their existing joint tenancy. However, 2 new joint tenancies will be created between Brian and Michael, as they keep the remaining ⅓ share from the original joint tenancy. They now also have a ⅙ share from Rosalind.
The resulting ownership is:
- Brian Tweedie and Michael Hanson jointly own a ⅓ share.
- Brian Tweedie and Michael Hanson jointly own a ⅙ share.
- TH Holdings Limited own a ½ share.
Save the page to view the Resulting Ownership in the Summary tab and confirm you have set up the Transfer correctly.
Use the Additional Clauses/Conditions or Intent field to combine the ⅓ and ⅙ shares in the title for Brian and Michael, if needed. This means the instrument lodges with LINZ for registration.
Example 2: John and Jenny
John and Jenny Davies have a joint tenancy of a ½ share in the affected title and Davies Limited owns the other ½ share.
John Davies is breaking the joint tenancy and transferring his ¼ share to Davies Limited.
Existing shares
- John and Jenny Davies jointly own a ½ share.
- Davies Limited own a ½ share.
Transferring shares to
- John is transferring his full interest in the ½ share he jointly owns with Jenny to Davies Limited. His interest is a ¼ share.
Remainder
John is breaking the joint tenancy he has with Jenny by transferring his ¼ share to Davies Limited. Jenny Davies and Davies Limited will become tenants in common.
The resulting ownership is:
- Jenny Davies owns a ¼ share.
- Davies Limited own a ¼ share.
- Davies Limited own a ½ share.
Save the page to view the Resulting Ownership in the Summary tab and confirm you have set up the Transfer correctly.
Use the Additional Clauses/Conditions or Intent field to combine the ¼ and ½ shares in the title for Davies Limited, if needed. This means the instrument lodges with LINZ for registration.
