Gold Coast Unit

Background

A former husband and wife owned an interest in a unit at the Gold Coast as tenants in common (1/2 each).

They separated with the husband travelling to New South Wales where he was impacted by the COVID-19 related border closures and unable to return to Queensland.

The wife continued to live in the unit, however the parties were unable to agree on the level of rent to be paid, who would pay the mortgage, the distribution of furniture and other assets within the property and the ultimate sale of the unit.

Following several months of correspondence between lawyers, QSAS was approached to act as Statutory Trustee.

Process

QSAS attended the property and worked with the wife over several weeks to assist her relocate to allow vacant possession (as required by the order). Once possession was obtained, QSAS obtained an independent valuation and engaged an agent to project manage some repairs and conduct a marketing campaign.

The property was sold at public auction, following which access was also provided to the husband (once border restrictions were lifted) to remove the remaining assets/furniture.

The appointment was difficult and contentious with various allegations relating to the removal of furniture and assets before and during the appointment by the parties highlighting the combative nature of their dispute.

Result

The property was sold with settlement occurring within four months of the appointment for a price that was significantly above the independent valuation, with payment made to court as required by the order. The parties were also able to limit the scope of their dispute with assistance from QSAS in resolving some of the other minor issues.