CANTRELL & CANTRELL

This matter concerned orders made by Cleary J in relation to the division of property between a husband and wife. The primary dispute revolved around the sale and distribution of proceeds from a jointly owned property, as well as the allocation of other assets including motor vehicles, a building society account, and a time-share interest.

The court was required to determine the specific terms for the sale of the parties' property, including the method of sale, the process for agreeing on a selling price, and the priority of disbursements from the sale proceeds. Further issues included the allocation of specific motor vehicles and a building society account between the parties, the transfer of a time-share interest, and the provision of indemnities for liabilities associated with these assets. The court also needed to address the consequences of a party's refusal or neglect to execute necessary documents to give effect to the orders.

Cleary J ordered that the parties were to list their jointly owned property for sale by private treaty at the earliest possible date, with the selling price to be agreed upon or determined by the President of the Real Estate Institute of New South Wales. The proceeds were to be disbursed first for sale expenses, then to discharge a mortgage, followed by any costs associated with price determination, with the remaining balance to be divided 66.5% to the wife and 33.5% to the husband. If the property was not sold by private treaty within three months, it was to be sold by public auction with a reserve price determined similarly. The court also made specific orders regarding the sole entitlement and indemnification for two motor vehicles, the assignment of a building society account to the wife, and the transfer of a time-share interest to the husband with an indemnity for outstanding fees. To ensure compliance, the Registrar of the Court was appointed to execute documents if a party refused or neglected to do so. Finally, each party was to retain their respective personal property, shares, and interests in insurance policies and superannuation funds standing in their sole name, subject to the preceding orders.