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Price v Price [2022] NZFC 1389

Published 24 August 2023

Relationship property — sale of property — trustees — transfer to the High Court — Property (Relationships) Act 1976 — Family Proceedings Act 1980, s 182. There were two matters in this decision. First, the sale of the parties' family home. In a previous reserved judgment, the respondent was granted an extension to buy out the applicant's share of the relationship property, as the respondent wanted to retain it. He was not able to do so due to time constraints and COVID restrictions; also, his bank was unwilling to conclude the total buy out within the required timeframe. The Court granted a sale order of the property which included the terms of sale, deduction of the costs and the distribution of sale. The respondent was to vacate the property no later than seven days before the settlement date, and the balance of the sale was to be divided equally between the parties. The second matter was whether to transfer the proceedings to the High Court. Due to the Family Court's limited jurisdiction on trusts and shares, the Court granted the transfer to the High Court. Judgment Date: 16 February 2022