Add Number Fields Legal North Carolina Property Settlement Forms For Free

Generally speaking, in North Carolina, spouses who own assets prior to getting married take their assets with them when they go, UNLESS they make the asset a gift to the marriage, in which case it likely becomes marital property.

North Carolina is an ``equitable'' state, meaning that there is no predefined formula for dividing assets. The judge will divide all assets acquired during the marriage and set alimony/child support payments in the most fair way possible.

Marital Property Your house, car, retirement accounts, bank accounts, and anything else you gained after getting married, with very few exceptions, are all part of your marital estate. This includes gifts you gave to your spouse (unless you expressly stated they were separate property) and marital debt.

North Carolina is an ?equitable distribution? state. Under equitable distribution, marital and shared debt and property are generally divided in a way that would be equitable. This is not necessarily a 50-50 split and can be modified in a way that will be fair to both parties, in the eyes of the court.

All property owned at the date of separation between the parties is generally presumed to be marital, however, separate property of either spouse is not marital and not subject to division. Separate property will consist of assets that were acquired before marriage, or through inheritance or gift during the marriage.

However, in most North Carolina divorce situations, equitable distribution law presumes an equal 50/50 division ? meaning each spouse receives half of the estate. That distribution can take place before or after a final divorce decree is rendered ? as long as you have preserved your rights before the judgment.

Generally speaking, in North Carolina, spouses who own assets prior to getting married take their assets with them when they go, UNLESS they make the asset a gift to the marriage, in which case it likely becomes marital property.

Is marital property always divided 50/50? Not always. North Carolina law presumes that an equal (50/50) division of marital property is ?equitable,? or fair.

Both spouses can only remove the other from the marital home with a court order. So, if there is no court order in place, they both have the equal right to remain in the house throughout the separation period. But remember, living together is not considered a separate residence.