Jim Thynne died in 2011, survived by his wife Victoria and sons Harry (from a previous marriage) and Patrick. In Jim's will, Victoria was left the family home valued $4 million. This was under the condition that Victoria would leave the family home to Patrick and Harry equally when she died. The conditions were set out in a memorandum of wishes, a document which clarified Jim's intentions for his will. Victoria signed this document agreeing to the conditions.
In 2020, Victoria took out a mortgage over the family home. She used that money to keep the family farm running and to buy another property.
Harry brought court proceedings against Victoria. Harry argued that the mortgage went against Victoria's duty to protect the family home for him and Patrick. He believed the mortgage put the property at risk. He also claimed that Victoria by using the money from the mortgage to buy a property was inappropriate. Harry asked the Court to discharge the mortgage.
The Court disagreed. The judge referred to the memorandum of wishes. The document set out Victoria's obligations in relation to the family home. Victoria was allowed to enjoy and use the family home as her own. Her only duty was to ensure the family home, or its value, was left to Harry and Patrick after her death.
The Court found the mortgage was not reckless nor wasteful. It was not likely to put at risk the sons’ inheritance. The Court ruled in Victoria’s favour. Victoria kept control of the family home. Harry’s claims were dismissed.