The plaintiff and defendant, siblings, disputed the ownership of three real estate holding corporations left to them by their father.
The plaintiff claimed they reached an agreement in 2014 to divide ownership, with the plaintiff taking one corporation and the defendant taking the other two, and that she signed a renunciation of her interest in a family trust based on this agreement.
The defendant argued the agreement was only for a temporary division of management.
The court found that the parties were in a fiduciary relationship, intended to divide ownership, and conducted themselves as sole owners for seven years.
The court granted a declaration that the plaintiff is the beneficial owner of the defendant's shares in the chosen corporation based on contract and proprietary estoppel.
