Jarrott and Jarrott

This matter concerned the division of property between the husband and wife, as determined by Justice Cronin. The dispute involved the distribution of various assets, including real property, shares, motor vehicles, and personal effects, as well as the allocation of liabilities and superannuation interests.

The court was required to determine the specific orders for the transfer of interests in real property, the discharge of home loan liabilities, and the sale of an investment property. Further issues included the division of net proceeds from asset sales, the allocation of capital gains tax liabilities, and the overall percentage split of the net pool of assets between the parties. The court also had to address the division of personal chattels and the treatment of superannuation interests under the *Family Law Act 1975*.

Justice Cronin ordered the wife to transfer her interest in the real property to the husband, who was to assume the home loan liability and indemnify the wife for all outgoings. The investment property was to be placed on the market for sale, with the net proceeds, after discharging liabilities and setting aside funds for capital gains tax, to be divided according to a 57.5% share to the husband and 42.5% to the wife. Specific orders were made for the division of chattels, including vehicles and jewellery, and for the allocation of a portion of the husband's superannuation interest to the wife. The operative time for the superannuation orders was set as the fourth business day after service on the trustee. The court also provided a mechanism for the parties to apply for costs.