Ku v You [2008] NSWSC 712

Ku v You [2008] NSWSC 712

The beneficial ownership of the property is to be apportioned in line with the parties' direct contributions to the purchase price (including incidentals) and an agreed division of responsibility for the mortgage at the time of acquisition. The evidence established that the plaintiff paid the incidentals, and that the mortgage responsibility was to be apportioned one-third to the plaintiff, two-thirds to the defendant and his wife. Applying these proportions, the beneficial shares are: plaintiff 53.94%, defendant 34.22%, and the defendant's wife 11.84%. Subsequent mortgage repayments and advances are subject to equitable accounting between the parties. There is no right to an account for...

Jurisdiction
Australia
Judgment Date
15 July 2008
Procedural Posture
Equity / Final Judgment
Outcome
Beneficial interests apportioned: plaintiff 53.94%, defendant 34.22%, defendant's wife 11.84%. Further accounting directed.
Legal Topics
['resulting Trust' 'beneficial Ownership' 'accounting Between Co Owners' 'mortgage Contributions']
['equity' 'trust Law'] ['resulting Trust' 'beneficial Ownership' 'accounting Between Co Owners' 'mortgage Contributions']

Case Brief

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Procedural Posture

Equity / Final Judgment

Legal Issues

  1. 1 ['What are the beneficial interests of each party in the Kellyville property?' 'How should contributions to mortgage and expenses be accounted for between the co-owners?' 'Is there an entitlement to account for rents received by one party?']

Ratio Decidendi

The beneficial ownership of the property is to be apportioned in line with the parties' direct contributions to the purchase price (including incidentals) and an agreed division of responsibility for the mortgage at the time of acquisition. The evidence established that the plaintiff paid the incidentals, and that the mortgage responsibility was to be apportioned one-third to the plaintiff, two-thirds to the defendant and his wife. Applying these proportions, the beneficial shares are: plaintiff 53.94%, defendant 34.22%, and the defendant's wife 11.84%. Subsequent mortgage repayments and advances are subject to equitable accounting between the parties. There is no right to an account for...

Court Disposition

Beneficial interests apportioned: plaintiff 53.94%, defendant 34.22%, defendant's wife 11.84%. Further accounting directed.

Orders

  • ['Parties to bring in short minutes to give effect to the judgment and accounting.']