Drake and Drake

In the matter of *Drake and Drake*, heard before Judge Obradovic, the court was required to determine the property settlement orders between the husband and wife. The dispute centred on the division of assets, particularly the matrimonial home and associated financial obligations.

The court was tasked with determining the specific financial contributions and entitlements of each party, the method of refinancing or selling the matrimonial home, and the distribution of proceeds from any sale. Further issues included the allocation of responsibility for outstanding debts, the division of joint bank accounts, and the transfer of specific assets such as a motor vehicle. The court also needed to address the ownership of personal property and superannuation entitlements.

The court made detailed orders to achieve a final property settlement. The wife was ordered to pay a sum of money to the husband and to refinance the mortgage on the matrimonial home into her sole name by a specified date. If the wife failed to comply, the property was to be sold by private treaty, with specific provisions for agent appointment, list price, and sale price negotiation. The proceeds of sale were to be distributed in a priority order, including the discharge of the mortgage, payment to the husband, and the balance to the wife, with different calculations depending on the net proceeds. Further orders provided for sale by auction if private treaty failed, with ongoing provisions for re-auctioning until sold. The wife was to be solely liable for mortgage payments and outgoings on the property pending sale. The court also ordered the payment of a debt to the Office of State Revenue from funds held in trust, with any shortfall to be shared equally and any surplus distributed between the parties. Joint bank accounts were to be closed and the balance divided equally, and the husband was to transfer ownership of a motor vehicle to the wife. Each party was declared the sole owner of personal property in their possession, and each was to indemnify the other against liabilities related to their respective entitlements. Finally, the Registrar was authorised to execute documents if either party failed to do so.