The moving party sought summary judgment arising from a joint real estate venture in which residential property was acquired in the responding party’s name, renovated, and intended to generate rental income.
The court held that the objective documentary record, including written agreements, bank records, and contemporaneous communications, established a partnership under the Partnerships Act rather than a loan or tenancy arrangement, and declared that the responding party held the property in trust for the partnership with the moving party having a 50 percent beneficial interest.
The court further found breaches of fiduciary duty, breach of trust, and breach of the partnership agreement where unauthorized mortgages were registered without consent, and directed a reference to an Associate Judge to complete the partnership accounting and quantify damages tied to excess mortgage debt.
A permanent injunction was granted restraining further interference with the moving party’s use and enjoyment of the property, and the counterclaim was effectively defeated by the summary judgment ruling.