Unaware that property can be purchased in unequal shares, a Palmerston North purchaser took a half share in a home with her then friend while putting up ninety per cent of the cash. She is now in the High Court trying to unravel the nightmare that followed.
Sharryn Weber and Debra Henderson were the best of friends. In July 2017 they purchased a home in Trump Place, Palmerston North, intending to co-habit while retaining space for their children to stay if needed. The $598,800 purchase was financed with a $479,200 bank loan. Of the cash injected, Ms Weber put up 90 per cent; Mrs Henderson ten per cent. They took title as 50/50 owners.
The High Court was told the two have fallen out. Several members of Mrs Henderson’s family including two daughters and their boyfriends had shifted in. One couple took up occupation of the lounge. One of the boyfriends is on bail. There was evidence of Ms Weber being threatened and excluded from parts of the house. Police were called on more than one occasion. Ms Weber shifted out. She applied to the High Court for orders under the Property Law Act forcing a sale. Mrs Henderson did not contest the application. Justice Cull ordered Trump Place be sold with the net proceeds held in trust pending a further court hearing. Still to be resolved is how the net proceeds are to be divided, questions of liability for alleged damage to the property, and the issue of occupation rent potentially payable by Mrs Henderson for the period she was the only co-owner in occupation.
Weber v. Henderson – High Court (21.03.18)
18.060