Property Ownership Battle: Self-Made Millionaire, Michael Lee vs. Nephew, Cheng-Jen Ku in Kensington

 

In the story, we have a self-made millionaire named Michael Lee, who is 79 years old, and his wife, King-Su Huang, aged 73. They took legal action against their nephew, 40-year-old named Cheng-Jen Ku, who asserted that he was the owner of a property in Kensington's Queen's Gate Place Mews.

Back in 2004, Mr. Lee and his wife purchased the property under Mr. Ku's name for the sake of privacy, as they wished to keep their wealth discreet. Mr. Ku initially resided there but later claimed ownership, stating it was a 'gift' from his wealthy aunt according to Taiwanese tradition. 

He mentioned that he left the house because his aunt and uncle were too strict.

Judge Alan Johns determined that Mr. Ku's actions did not align with those of a genuine owner, and consequently, he awarded ownership of the house to Mr. Lee's wife and him.

Furthermore, Mr. Ku was ordered to cover his aunt and uncle's legal fees, amounting to approximately £115,000, in addition to his own legal expenses, which were estimated at £35,000 before the trial.

Mr. Lee, a businessman who built his fortune through an Essex electronics company worth £13 million, met his wife while working in Taiwan and invested his wealth in real estate. The couple decided to purchase the property in Queen's Gate Place Mews, which is conveniently located near the Royal Albert Hall and the Natural History Museum.

Mr. Ku, who was described as a 'close' nephew and was once affectionately called 'Trouble' by Mr. Lee when he was a child, had previously lived with the couple in their former £1 million-plus Essex home after moving to the UK from Taiwan.

In court, Mr. Lee explained that his wife had given their nephew £1.57 million to purchase the house in his name. This was done to maintain privacy and prevent the property from being used as collateral for business loans.

It's worth noting that the property's current value has more than doubled from its purchase price and is estimated to be worth up to £4 million.

As the trial unfolded, Mr. Ku's claim that the house was a gift from his aunt was strongly refuted by Mr. Lee, who described his nephew's transformation from a 'cute little kid' to a 'mean and nasty' individual in adulthood. He accused Mr. Ku of attempting to steal their house, which led to their legal dispute.

In his verdict, Judge Alan Johns emphasized that the clear intention was for Mrs. Huang to be the owner of the mews house, with a prior agreement in place. The property was meant to be held under Mr. Ku's name solely for the purpose of privacy.

[SOURCE]