Get TOPIC: Marital Rights Of Spouses - Chicago Title North Carolina

In a common-law state, you can apply for a mortgage without your spouse. Your lender won't be able to consider your spouse's financial circumstances or credit while determining your eligibility. ... If you and your partner were to split up, the home would be yours alone; you wouldn't have to split it with your spouse.

In North Carolina, the courts will divide property in a way that is equitable, or fair. The court will assume that dividing the marital property evenly, 50/50, is what is most fair. This is true unless the court determines that dividing the assets equally is not fair.

In divorces, states have two options for dividing property: community property division (where marital property belongs to both spouses equally, regardless of who bought it) or equitable division (where the court divides marital property equitably (justly.) North Carolina is not a community property state.

North Carolina law presumes that an equal (50/50) division of marital property is equitable, or fair. However, the law provides for many factors that allow for an unequal distribution of property, in situations where an equal division would not be fair.

Spousal Abandonment in North Carolina. Spousal abandonment occurs when one spouse ends the marital cohabitation without justification or provocation, without the consent of the other party, and without any intent to resume the marital relationship.

Both spouses owning property Both parties must sign documents in purchase, sale, or refinance transactions. ... North Carolina has a specific statute allowing a married buyer of real estate to sign their purchase-money Deed of Trust without requiring the signature of the buyer's spouse.

The definition of marital property is found in section 50-20(b)(1) of the North Carolina General Statutes all real and personal property acquired by either spouse during the course of the marriage and before the date of separation, and presently owned, except property determined to be separate property in ...

Both spouses owning property Both parties must sign documents in purchase, sale, or refinance transactions. ... North Carolina has a specific statute allowing a married buyer of real estate to sign their purchase-money Deed of Trust without requiring the signature of the buyer's spouse.

In North Carolina, the rule of thumb for married couples is that one spouse may purchase real property, but both spouses must sign the deed to sell property. ... If a married person can buy property in cash, with no deed of trust required, then he/she can buy the property without his/her spouse signing anything.

Separate property refers to any property the spouses acquired separately before the marriage or after separation (or in some states after divorce). Separate property also includes any gifts or inheritances acquired by either spouse at any time.