New Zealand Law
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You can continue to try to sell the property to others on the open market, and apply to court to remove the caveat, and for possession. You could also apply for possession in the Teanancy Tribunal if they are not paying rent. You will need to get a lawyer for the caveat removal, but they will have to pay full costs if this caveat was not justified. The caveat can be removed if the property has been sold, so they will lose out on the ability to purchase.
There are a number of options once you have a contract for the sale. The first would be to apply for an order removing the caveat through the High Court, which you can do at any time. The other would be to register the transfer to the purchasers with notice to the caveators (your relations) and they then have to apply to court to maintain the caveat. These are under the Land Transfer Act, and can be pushed quite quickly. If a court finds they have an interest in the property, this wont stop the sale but may mean the cash is tied up until that is resolved. But they would have to do the arguments to justify this. Your property lawyer should know about this, although I would suggest you will need a litigation specialist
Yes for the tribunal. And you may need to formally cancel any agreements to sell if they have run out of time. And as for ending easily, I always suggest mediation as better than a court case.
The issue is the nature of the benficial interes they are claiming in the property. That is unclear from your question although they appear to be claiming you hold the property on trust for them. If that is the case then they need to prove the nature of the trust. You do need to brief a litigation specialsit and work through this in stages, resolving whether they really do have an interest and whether this was a tenancy. This is likely to need some litigation in the High Court