Holland and Holland

In a proceeding before Judge Jones, the applicant wife sought leave to institute proceedings under section 79 of the *Family Law Act 1975* (Cth) concerning property division. The dispute involved the division of assets, particularly a property located in Victoria, and the financial obligations of each party in relation to its disposition.

The court was required to determine the terms of property adjustment between the parties, including the payment of a sum by the wife to the husband, the refinancing and transfer of a specific property into the wife's sole name, and the consequences of default by either party in complying with these orders. Furthermore, the court had to address the scenario where the wife failed to comply with the refinancing obligations, necessitating the sale of the property. The court also had to determine the distribution of sale proceeds and the interim arrangements for the occupation of the former matrimonial home.

Judge Jones ordered that the wife be granted leave to institute proceedings under section 79 of the Act. The wife was ordered to pay the husband $90,000 within 90 days. Upon this payment, the wife was to refinance the property into her name, with the husband to execute all necessary documents. In the event of the husband's default, a Registrar or Deputy Registrar was appointed to execute documents on his behalf, and the husband was to pay the wife's enforcement costs. If the wife failed to comply with the refinancing orders, the property was to be placed on the market for private sale, with provisions for agreeing on an agent and reserve price, including mechanisms for dispute resolution. Pending transfer or sale, the wife was granted sole use and occupation of the former matrimonial home and was responsible for associated payments. Upon sale, proceeds were to be applied first to sale costs, then to discharge encumbrances, with the remaining balance distributed 62% to the wife and 38% to the husband. Otherwise, each party was to retain property in their possession.