Terzi and Terzi (No. 5)

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FAMILY COURT OF AUSTRALIA

TERZI & TERZI (NO. 5) [2019] FamCA 1009
FAMILY LAW – PROPERTY – Property adjustment – Undefended hearing – Where consideration of applicable principles – Where consideration of relevant contributions and s 75(2) factors – Where orders made for property adjustment.
Family Law Act 1975 (Cth) ss 69ZN, 75, 79
Family Law Rules 2004 (Cth) rr 11.02, 16.07
Aleksovski v Aleksovski (1996) FLC 92-705
Aon Risk Services Australia Ltd v Australian National University (2009) 239 CLR 175
Bevan & Bevan [2014] FamCAFC 19
Chapman & Chapman [2014] FamCAFC 91
Davey v Lee (1990) DFC 95-084; (1990) 13 Fam LR 688
Dickons & Dickons  [2012] FamCAFC 154
Harris & Harris (1991) 104 FLR 458
Jarrah & Fadel [2014] FamCAFC 14
Russell & Russell (1999) FLC 92-877
Stanford v Stanford [2012] HCA 52
Teal & Teal [2010] FamCAFC 120
Terzi & Terzi [2019] FamCA 357
Terzi & Terzi (No 2) [2019] FamCA 490
Terzi & Terzi (No 3) [2019] FamCA 523
APPLICANT: Mr Terzi
RESPONDENT: Ms Terzi
FILE NUMBER: PAC 2690 of 2016
DATE DELIVERED: 20 December 2019
PLACE DELIVERED: Parramatta
PLACE HEARD: Parramatta
JUDGMENT OF: Foster J
HEARING DATE: 15 November 2019

REPRESENTATION

APPLICANT – SELF-REPRESENTED LITIGANT: No appearance
COUNSEL FOR THE RESPONDENT: Mr Cairns
SOLICITOR FOR THE RESPONDENT: Auslawyers

Orders

  1. That upon noting that the wife has been appointed as trustee for sale of the property at B Street, Town C (“the Town C property”) being all of the land comprised, the wife do all things necessary to disburse the proceeds of sale of the said property as follows:

    (a)in discharge of the mortgage secured over the Town C property;

    (b)      in payment of real estate agent’s commission and expenses on the sale;

    (c)in payment of proper legal costs and disbursements of and incidental to the sale;

    (d)in contractual adjustment of rates, levies and taxes in respect to the property;

    (e)in payment to the wife of $2,620 representing funds expended by the wife on the property getting the property ready for sale;

    (f)in payment of 40 per cent of the balance then remaining to the husband or as he may direct in writing;

    (g)      in payment of a further sum of $3,542 to the husband; and

    (h)      in payment of the balance then remaining to the wife.

  2. That the wife do all things necessary to transfer to the husband her interest in the Y Shares.

  3. Liberty to apply as to implementation or enforcement of these orders.

Note: The form of the order is subject to the entry of the order in the Court’s records.

IT IS NOTED that publication of this judgment by this Court under the pseudonym Terzi & Terzi (No. 5) has been approved by the Chief Justice pursuant to s 121(9)(g) of the Family Law Act 1975 (Cth).

Note: This copy of the Court’s Reasons for Judgment may be subject to review to remedy minor typographical or grammatical errors (r 17.02A(b) of the Family Law Rules 2004 (Cth)), or to record a…

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Details
Case
[2019] FamCA 1009
Decision Date

CaseChat Overview and Summary

In *Terzi and Terzi (No. 5)*, Foster J of the Family Court of Australia considered the disbursement of proceeds from the sale of a property and the transfer of shares between the parties. The dispute concerned the division of assets following the breakdown of the marriage.

The primary legal issue before the court was how the net proceeds of the sale of the Town C property should be distributed between the husband and wife. Additionally, the court was required to determine the disposition of the wife's interest in certain Y Shares.

Foster J ordered that the wife, as trustee for sale of the Town C property, was to disburse the proceeds in a specific order of priority. This included discharging the mortgage, paying sale expenses and legal costs, making contractual adjustments, reimbursing the wife for funds expended on preparing the property for sale, and then distributing the remaining balance. The husband was to receive 40 per cent of this balance, followed by a further fixed sum of $3,542. The ultimate balance was to be paid to the wife. The court also ordered the wife to transfer her interest in the Y Shares to the husband. Liberty to apply was granted for the implementation or enforcement of these orders.

Orders

Orders of the court

1.

That upon noting that the wife has been appointed as trustee for sale of the property at B Street, Town C (“the Town C property”) being all of the land comprised, the wife do all things necessary to disburse the proceeds of sale of the said property as follows:

(a) in discharge of the mortgage secured over the Town C property;

(b) in payment of real estate agent’s commission and expenses on the sale;

(c) in payment of proper legal costs and disbursements of and incidental to the sale;

(d) in contractual adjustment of rates, levies and taxes in respect to the property;

(e) in payment to the wife of $2,620 representing funds expended by the wife on the property getting the property ready for sale;

(f) in payment of 40 per cent of the balance then remaining to the husband or as he may direct in writing;

(g) in payment of a further sum of $3,542 to the husband; and

(h) in payment of the balance then remaining to the wife.

2.

That the wife do all things necessary to transfer to the husband her interest in the Y Shares.

3.

Liberty to apply as to implementation or enforcement of these orders.

Note: The form of the order is subject to the entry of the order in the Court’s records.

Background

Background to the litigation

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Evidence

Evidence Before The Court

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Decision

Reasons for decision

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Ratio Decidendi

Legal Principle Established

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