Where jointly-held property is sold at an undervalue as a voidable disposition under s 89 of the Property Law Act 1969 (WA), the prejudice to creditors of one joint tenant is measured by that joint tenant's aliquot share of the undervalue, not the full undervalue. A sale by all joint tenants does not of itself sever the joint tenancy; the joint tenancy converts from real property to personal property (the proceeds of sale). A mere declaration of intent by one joint tenant to gift part of the proceeds does not effect a severance.
The full text is available to signed-in members, including the 10 later cases that cite this judgment.