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
The transfer severs the joint tenancy between Brian, Rosalind, and Micahel as to Rosalind's interest. Brian and Michael continue to jointly hold the remaining ⅓ share from the original joint tenancy. They now also jointly hold 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.
It is not possible in this context to request the amalgamation of the existing ⅓ share with the newly acquired ⅙ share. For more information, see Transfers with requests to amalgamate shares
However, the transfer can be structured to have a similar effect, if desired. In this example Brian, Michael and Rosalind could together transfer their ½ share to Brian and Michael jointly, which would result in Brian and Michael owning the full ½ share jointly.
Save the page to view the Resulting Ownership in the Summary tab and confirm you have set up the Transfer to achieve the intended ownership structure.
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. Davies Limited will now be tenants in common with Jenny as to her remaining share.
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 request the combination of the ¼ and ½ shares in the title for Davies Limited, if needed. This means the instrument lodges with LINZ for registration.
