Executors of the Estate of Dace and Dace

The proceedings involved the Executors of the Estate of Dace (the applicant) and a respondent, concerning a dispute over the distribution of proceeds from the sale of several properties. The matter came before Judge Jarrett in the Supreme Court of Queensland.

The court was required to determine the appointment of a trustee for sale for multiple properties and to establish the priority for the distribution of the sale proceeds. This included the discharge of encumbrances, sale costs, and the satisfaction of specific monetary claims and interest owed to the estate of the late Ms Dace, with any remaining balance to be paid to the respondent.

Judge Jarrett ordered the appointment of a trustee for sale, either by agreement between the parties within 21 days or by nomination from the President of the Queensland Law Society thereafter. The identified properties were to vest in the appointed trustee and be sold on terms determined by the trustee. The court then stipulated a clear order of priority for the application of the sale proceeds, commencing with mortgage discharge and sale expenses, followed by specific payments to the estate of the late Ms Dace, including a principal sum, statutory interest, and court-ordered amounts, before any remaining balance was to be paid to the respondent. The respondent was also ordered to pay the applicant's costs of the application.