Zao & Lee

This case involved a property settlement between Mr Lee (the husband) and Ms Zao (the wife) following their divorce. The husband and wife were both 63 years old, had married in late 2010 and separated in December 2014, with their divorce finalised in 2016. The court had to decide on the appropriate division of the matrimonial property, specifically the H Street and F Street properties. The husband proposed that the properties be sold and the net proceeds be divided 70/30 in his favour, after certain debts and payments were settled. The wife proposed that she transfer her interest in the H Street property to the husband and that he pay her $250,000.

The court had to determine the appropriate division of the properties in light of the contributions made by each party to the acquisition, conservation, and improvement of their property. The court had to consider the financial and non-financial contributions made by each party, their respective earning capacities, and any other relevant factors. The court found that the contributions of both parties were equal, considering the various financial and non-financial contributions made during the relationship. The court also noted that the wife's financial statement showed a substantial surplus of income over expenditure, as well as a surplus of assets over liabilities and superannuation for her retirement. The court concluded that no further alteration of property interests was warranted in the circumstances.

The court ordered that the H Street property be transferred to the husband and that the wife pay him $200,000. The F Street property was to remain in the wife's sole name. The husband was to pay the mortgage to the NAB and the wife was to pay the husband $200,000 within 28 days of the order. The court found that this order was just and equitable in all the circumstances.