WARRICK & MIA

The parties to this proceeding were the wife and the deceased husband's estate, represented by the applicant. The dispute concerned interim property orders and the removal of a caveat. The matter came before Foster J.

The court was required to determine whether to grant the wife's application for the removal of a caveat, her application for security for costs from the deceased husband's estate, and the estate's application for the sale of a property.

Foster J dismissed the wife's applications for the removal of the caveat and for security for costs. The court made orders permitting the wife to sell the property at D Street, Suburb M, provided the sale price was not less than $1,500,000 without the applicant's consent. Upon sale, after payment of sale costs and adjustments, 40 per cent of the remaining proceeds were to be held in a controlled money account in trust for both parties, with $100,000 to be paid to the applicant and the balance to remain pending further order. The remaining balance of the sale proceeds were to be paid to the wife. The applicant was ordered to provide a withdrawal of caveat upon settlement to facilitate the sale. Alternatively, the wife was permitted to mortgage the property for up to $500,000, provided $100,000 of the borrowed sum was paid to the applicant, with the remaining funds to be disbursed as the wife directed. The applicant was required to consent to the mortgage in priority to his caveat. Costs were reserved.