LUCAS & HART

In the matter of *Lucas & Hart*, Judge Betts determined property settlement proceedings between the Husband and Wife. The case was resolved "on the papers" by agreement of the parties, addressing arguments concerning add-backs, contributions, and factors under section 75(2) of the *Family Law Act 1975* (Cth) to achieve a just and equitable outcome.

The court was required to make orders reflecting the parties' agreement regarding the division of their property interests. This included the transfer of real property, refinancing of mortgages, withdrawal of a caveat, disbursement of funds held in trust, and the sale of a jointly owned property. The orders also stipulated how the proceeds from the sale of the E Street property were to be applied, including the discharge of a mortgage and the payment of sale expenses.

The court's reasoning was based on the agreed terms of the parties, which aimed to achieve a specific division of their net combined assets. The orders provided for the transfer of the B Street property to the Wife and the D Street property to the Husband, with each party responsible for refinancing the associated mortgages. The E Street property was to be sold, with proceeds applied first to sale costs and mortgage discharge, and the balance to be held pending further orders. The final distribution of the net proceeds was calculated to give the Wife 48% and the Husband 52% of the total net combined assets, with specific provisions for the Husband's capital gains tax liability.