Kerin & Kerin

In the matter of *Kerin & Kerin*, Young J of the Family Court of Australia was required to determine property settlement orders between a husband and wife. The dispute concerned the division of various assets, including real estate, shares, and superannuation, and the allocation of liabilities.

The court was tasked with determining the appropriate distribution of the parties' property and liabilities, including the transfer of specific real estate properties, shares, and the discharge of a mortgage. The court also had to consider the consequences of non-payment of a sum ordered to be paid by the wife to the husband, and the severance of any joint tenancies.

Young J ordered that the wife pay a specified sum to the husband within sixty days. Contemporaneously with this payment, the parties were to transfer their respective interests in various properties and shares to each other, with the husband to discharge a mortgage on one property and indemnify the wife against related payments. The wife was also ordered to withdraw a caveat at her expense. The orders further stipulated that unless otherwise specified, each party would be solely entitled to other property in their possession, with bank accounts, superannuation, and insurance policies to become the sole property of the named party. Each party was to be solely liable for and indemnify the other against any liabilities encumbering property they received, and any joint tenancies were to be severed. In the event the wife failed to make the payment, she was to transfer her interest in a specific property to the husband on trust for sale, with the proceeds to be applied first to sale costs, then to discharge encumbrances, then to pay the outstanding sum to the husband with interest, and any balance to the wife. All other extant applications were dismissed.