Carter and Carter

In *Carter and Carter*, the parties presented a dispute concerning the division of their property and liabilities to Macmillan J. The court was tasked with making orders to resolve these financial matters.

The legal issues before the court involved determining how the proceeds of sale of a specific property, the "Suburb C property," should be distributed. Additionally, the court needed to ascertain the respective entitlements and liabilities of each party concerning other assets and debts, including motor vehicles, bank accounts, personal belongings, and various financial obligations such as a motor bike debt, a GE Finance debt, a debt related to a stolen boat, business debts, and a debt owed to a solicitor. The court also had to consider the broader implications of its orders on the parties' ongoing financial relationship.

Macmillan J reasoned that the proceeds of the Suburb C property should first cover sale costs, then any outstanding mortgage or encumbrances, with the remaining balance to be paid to the Wife. The Wife was to retain other property in her name, including a motor vehicle, bank accounts, and personal effects, and would be solely liable for debts associated with these assets, specifically a motor bike debt and a GE Finance debt. Conversely, the Husband was to retain other property in his name, such as the proceeds from a second motor vehicle, his bank accounts, and personal belongings, and would be solely responsible for debts including those related to a stolen boat, business debts, and a debt to his solicitor. The court further ordered that each party would exclusively own property in their possession, joint bank accounts would be divided equally, insurance policies would belong to the named owner, and each party would forgo claims to the other's superannuation. All joint tenancies were severed, and each party was to indemnify the other against liabilities encumbering property they received.

The court ordered that the Initiating Application filed on 20 June 2013 be dismissed. The orders were to be served on the Husband and his solicitors. The court noted that, pursuant to section 81 of the *Family Law Act 1975*, these orders were intended to finally determine the parties' financial relationship and prevent further proceedings.