Bilson and Bilson

In the matter of *Bilson and Bilson*, Rees J considered the property settlement between the husband and wife. The dispute concerned the division of assets and liabilities, including a property located at Suburb C and a mortgage secured over it.

The court was required to determine the appropriate orders for property settlement, including the quantum of the payment to be made by the husband to the wife, the transfer of interests in the Suburb C property, the discharge of a mortgage, and the husband's indemnity in relation to that mortgage. The court also needed to make provision for the event that the husband failed to meet his payment obligations by the due date.

Rees J ordered that the husband pay a sum of $665,466 to the wife by way of property settlement within three months. Simultaneously, the wife was to transfer her interest in the Suburb C property to the husband, who was then to discharge the Commonwealth Bank mortgage secured over it and indemnify the wife against any liability in relation to that mortgage. In the event of non-payment by the due date, the Suburb C property was to be sold, with the proceeds applied first to discharge the mortgage, then to satisfy the wife's entitlement and interest, followed by sale costs, and any balance to the husband. Otherwise, each party was to retain property in their possession.