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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22305
Experience:  37 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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If someone has been gifted a property through power of

Customer Question

Hi, if someone has been gifted a property through power of attorney but now the original owner of the property wants the money of the house after it has been sold for a good price - what are the rights of the person that has been gifted the property since they were the receiving end of the gift? How is the one being gifted the property covered legally? and what is your advice on this matter if they try to take the money away ? thank you !
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

A gift is a permanent transaction and cannot be overturned. It is as effective as if you bought the property for good value. The only circumstances where the gift can be overturned is in situations where the donor lacked capacity to understand the nature of the gift, or was insolvent at the time of the gift. Gifts within 5 years of needing rest home subsidies can also be set aside.

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