SAVAGE & ADAM

This matter concerned an application by the Applicant for orders relating to the sale of a property, identified as Property G, and the division of proceeds. The Respondent was also granted the right to occupy the property until its sale and was ordered to pay associated outgoings. The court also made orders regarding the vesting of various other assets and financial resources between the Applicant and the Respondent.

The central legal issues before the court were how to facilitate the sale of the property, the distribution of the net proceeds from that sale, and the final division of other specified assets and financial resources between the parties. The court was required to determine the terms of the sale, including the appointment of an agent, advertising, and the acceptance of offers, as well as the priority of payments from the sale proceeds. Furthermore, the court needed to address the vesting of individual assets and financial resources to achieve a final resolution of the parties' property interests.

The court ordered that the Applicant be granted leave to proceed ex parte. It then made detailed orders for the sale of Property G by public auction, mandating the Respondent to take all necessary steps to effect the sale, including engaging a real estate agent, executing documents, and cooperating with the sale process. The court stipulated a specific order of priority for the distribution of the net proceeds of sale: firstly, to cover agent's commission and auction expenses; secondly, to satisfy outstanding mortgage payments; thirdly, to cover legal costs; fourthly, to address rates and conveyancing adjustments; and finally, to divide the remaining balance, with 60% to the Applicant and 40% to the Respondent. The court also ordered that specified furniture, personal effects, savings, investments, superannuation, life insurance, and other financial resources vest absolutely in the Applicant, free of any claim by the Respondent, and similarly, that specified assets vest absolutely in the Respondent, free of any claim by the Applicant. In the event of non-compliance, the Registrar of the Court was appointed to execute necessary documents. Liberty to apply was granted to either party on seven days' notice.