Bailey and Bailey

This matter concerned the division of property between a husband and wife, heard by Judge Coker. The primary dispute revolved around the sale of the former matrimonial home and the distribution of its proceeds, as well as the allocation of various other assets and liabilities.

The court was required to determine the manner in which the former matrimonial home should be sold, including the listing price, the appointment of an agent, and the parties' obligations to facilitate the sale. Further issues included the distribution of the sale proceeds after discharging the mortgage and sale costs, the apportionment of any shortfall if the sale price was insufficient, and the respective responsibilities for ongoing outgoings and liabilities associated with the property pending its sale. The court also had to address the division of motor vehicles, superannuation entitlements, and other personal assets and debts.

The court ordered the sale of the property by private treaty within 14 days, with the listing agent to be mutually agreed or nominated by the husband. The listing price was to be mutually agreed or set at the agent's nominated fair market value. The parties were directed to cooperate fully with the agent. Upon sale, proceeds were to be applied first to the mortgage, then sale costs, with the balance split 60% to the wife and 40% to the husband. Any shortfall was to be shared equally. The wife was granted the right to occupy the property pending sale, with the husband responsible for outgoings, and the wife to reimburse him for half of these costs from her share of the sale proceeds. The court also ordered the transfer of motor vehicles between the parties, with each party indemnifying the other for liabilities associated with their respective vehicles. A superannuation splitting order was made in accordance with the Family Law Act 1975, entitling the wife to a specific amount from the husband's superannuation fund. All other assets and liabilities were to be retained by each party absolutely, with each party solely liable for their existing debts and to indemnify the other. The Registrar was appointed to execute documents on behalf of a defaulting party.