North Carolina Divorce Law – Raleigh Divorce Lawyer
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Quickly find the answers you’re looking for as it pertains to Property Division in North Carolina.
When and how property is “acquired” is crucial to classification. The cases have developed the view of acquisition as an ongoing, dynamic process of obtaining equity (net value) in an item of property when or as payment is made. Regardless of when title to an item of property is taken, the property is acquired as […]
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“Property” includes both assets and debts. All assets and debts acquired during the marriage, and owned on the date of separation, are valued as of the date of separation in North Carolina for purposes of calculating the net value of the marital estate. If the net value of the marital property is $100,000, applying the 50/50 […]
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Some property is not, properly speaking, either marital or separate. For example, property acquired after separation does not fall within the statutory definitions of either marital or separate is itself neither marital nor separate but, rather, must be treated as a distributional factor.
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The definition of separate property is found in section 50-20(b)(2) of the North Carolina General Statutes — all real and personal property acquired before marriage, or property acquired during the marriage by bequest, devise, descent or gift. Professional and business licenses which would terminate on transfer are expressly defined to be separate property, as is […]
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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 accordance with the statute. The statutory […]
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Classification is the process by which the court applies the statutory definitions of marital and separate property to the specifically identified items of property in which the parties have some ownership interest. Classification by the court must be supported not only by evidence but also by appropriate findings of fact.
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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 accordance with the statute. The statutory […]
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