WILMOT & WILMOT

This matter concerned an application by the Husband for a division of the parties' property interests, specifically seeking the sale of the former matrimonial home. The Wife, conversely, sought to retain the home. The Husband also sought a superannuation splitting order to equalise their entitlements, while the Wife proposed no alteration to their superannuation, with any entitlement she might have to the Husband's superannuation being offset against his interest in the former matrimonial home. The proceedings were heard by Judge Bender.

The court was required to determine the appropriate orders for the division of the former matrimonial home and the parties' superannuation entitlements. This involved considering whether the Wife could refinance the existing mortgages on the former matrimonial home and make a cash payment to the Husband, or if the property should be sold. The court also had to decide the terms of any superannuation splitting order, taking into account the Wife's proposal to offset her superannuation entitlement against the Husband's interest in the home.

The court's reasoning led to a conditional order regarding the former matrimonial home. The Wife was given an opportunity to provide written confirmation that she could borrow sufficient funds to refinance the mortgage and pay the Husband $45,000. If she complied with this, she would retain the home, pay the Husband the $45,000, and indemnify him against the mortgages and outgoings. If she was unable or unwilling to refinance, the former matrimonial home was to be sold, with the proceeds distributed after costs, mortgage discharge, and outgoings, with the balance divided 57.5% to the Wife and 42.5% to the Husband. A superannuation splitting order was also made, contingent on the Wife's ability to refinance. If she could refinance and make the cash payment, $40,000 of her entitlement to the Husband's superannuation would be offset. If she could not refinance, a superannuation splitting order equalising their entitlements would be made, with the Wife receiving $85,205. The court also made orders regarding the sale of tools of trade and memorabilia, with proceeds divided 57.5% to the Wife and 42.5% to the Husband.