While the issues of child custody and child support may be some of the most difficult issues to tackle during a divorce, dividing property can also be very difficult for soon-to-be exes. In dividing property, a minority of states follow the "community property" method of division, while the rest generally follow the "equitable distribution" method of division. North Carolina, like the majority of states, divides property based on equitable distribution.
Classification of Property
In proceedings for property division, North Carolina classifies property as marital property, divisible property, or separate property. Each type of property is generally categorized as follows:
Please note that the property defined above is not a complete list, but you can find such a list contained in North Carolina General Statutes Section 50-20(b). Once the court determines which property falls into which category, it will then provide for an equitable distribution of marital and divisible property.
North Carolina Equitable Distribution Laws at a Glance
There's no question that it's important to read the actual text of a statute when conducting legal research. But it can also be beneficial to read a summary of the statute in plain English to supplement your understanding of what a law says. In the chart below, you'll find an overview of North Carolina equitable distribution laws, and links to relevant statutes.
|Factors to Determine Equitable Distribution of Property||
Generally, the court will divide martial property and divisible property equally (based on the net value of each type of property). However, if equal division would not be equitable, the court will consider a variety of factors* to determine how to make the division of property equitable including:
*For a complete and more detailed list of factors, please see Section 50-20(c).
North Carolina General Statutes
Note: State laws are always subject to change through the passage of new legislation, rulings in the higher courts (including federal decisions), ballot initiatives, and other means. While we strive to provide the most current information available, please consult an attorney or conduct your own legal research to verify the state law(s) you are researching.
North Carolina Equitable Distribution Laws: Related Resources
For more information and resources related to this topic, you can visit the links below:
Talk to an Attorney About North Carolina Equitable Distribution Laws
If you're thinking about filing for divorce, or have already filed for divorce, it's a good idea to contact a North Carolina divorce lawyer who can explain how North Carolina equitable distribution laws affect your particular situation.
Contact a qualified attorney.