Nc Equitable Distribution Worksheet With Answers
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How to fill out Massachusetts Organizing Your Personal Assets Package?
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FAQ
Since the allowable time frame for equitable distribution and divorce are linked and a claim for divorce is not barred by a statute of limitations, Bruce v. Bruce, 79 N.C. App. 579, 339 S.E.2d 855 (1986), a claim for equitable distribution also cannot be barred by a statute of limitations.
What is equitable distribution? Equitable distribution is a legal claim for property division, in which a spouse can ask the court for assistance in dividing the assets and debts acquired during the marriage.
The equitable distribution statute requires an equal division of the couple's marital property. In an equal distribution, one spouse would receive 50% of the marital property and the other spouse will also receive 50% of the marital property.
State laws dictate property distribution when a marriage is dissolved. North Carolina is an equitable distribution state, meaning that when spouses are unable to resolve property rights on their own, the court determines what is a fair and reasonable distribution.
Under North Carolina law, mediation is mandatory in cases that involve equitable distribution. The majority of equitable distribution cases filed in Buncombe County are settled outside of court, either through negotiations or mediation.