Jacobs and Jacobs

This matter concerned orders made by Johnston JR in proceedings between a husband and wife. The dispute revolved around the division of property, specifically the matrimonial home and other assets, and the financial adjustments required between the parties.

The court was required to determine the terms of the property settlement, including the payment of a sum of money by the husband to the wife, the transfer of the wife's interest in the matrimonial home to the husband, and the procedure for the sale of the home in the event of default. Further issues included the distribution of sale proceeds, the declaration of ownership of other property, and the appointment of a Registrar to execute documents in case of non-compliance.

Johnston JR ordered that the husband pay the wife $184,503 within 60 days, and simultaneously transfer the wife's interest in the New South Wales home to the husband. The husband was to indemnify the wife against all outgoings related to the home pending this transfer. In the event of the husband's default, the home was to be sold, with specific provisions for listing price, agent selection, and sale by private treaty or auction. The proceeds of sale were to be applied first to sale costs, then legal costs, then reimbursement of prepaid expenses, and finally distributed with 58.408% to the husband and 41.592% to the wife. The court also declared each party the owner of all other property in their possession, including superannuation, pursuant to s 79 of the relevant Act. A Registrar was appointed to execute documents if a party failed to do so, pursuant to s 106A of the Act. The orders were to commence operation on 16 November 2007, with leave granted for parties to re-list for submissions on the form of orders or implementation.