Napier and Scully

This matter concerned the division of property between an applicant husband and a respondent wife. The court was required to make orders regarding the transfer of property, the payment of a sum of money, and the division of proceeds from the sale of a property.

The primary legal issues before the court were how to equitably divide the parties' assets, specifically concerning the matrimonial home (Property E) and another property (Property M), and to determine the financial obligations of each party in relation to these assets and other personalty. The court also needed to establish a mechanism for the sale of Property E should the wife fail to meet her payment obligations.

The court ordered the wife to pay the husband $678,993.00 within 42 days, at which point the husband was to transfer his interest in Property E to the wife, who was to refinance the mortgage on that property into her sole name. The wife was declared the sole beneficial owner of Property M. Other assets and liabilities were to be retained by each party respectively, with the husband indemnifying the wife for certain loans. In the event the wife failed to make the payment, Property E was to be listed for sale by public auction with a reserve price of $1,150,000.00, with specific provisions for negotiation and re-listing if the reserve was not met. The proceeds of the sale were to be applied first to sale costs, then legal costs, discharge of the mortgage, repayment of the sum to the husband, and any net balance to the wife. The Registrar was appointed to execute documents if a party defaulted.