Esders v New Zealand Guardian Trust Co - [1996] 1 NZLR 723

Property law — Caveat — Trustee directed to offer land to four named beneficiaries after expiry of life interests — Whether direction gave beneficiaries a right of pre-emption or an option to purchase — Whether beneficiaries' right created a caveatable interest in land — Land Transfer Act 1952, ss 137(a) and 145.

Trusts and trustees — Express trust — Trustee directed to offer land to four named beneficiaries after expiry of life interests — Whether direction created an express trust in favour of beneficiaries.