How is property divided in North Carolina?
All property is considered marital property unless proven to be separate property. Separate property falls into 3 categories in North Carolina: property owned by one spouse prior to the date of marriage, property inherited, and property acquired by gift from someone other than the other spouse. The division of the marital property is that which is just and right in accordance with the courts ruling. Generally, you are looking at a 50/50 split, absent some circumstance that indicates otherwise. Twelve different factors apply when assets are distributed including, but not limited to: the unequal earning power of the parties, the expectation of pension or retirement benefits, contributions made by one spouse to the education or career development of the other, the need of a parent with custody of a child or children of the marriage to occupy the marital residence and use or own its household effects.
All property is considered marital property unless proven to be separate property. Separate property falls into 3 categories in North Carolina: property owned by one spouse prior to the date of marriage, property inherited, and property acquired by gift from someone other than the other spouse. The division of the marital property is that which is just and right in accordance with the courts ruling. Generally, you will receive a 50/50 split, absent some circumstance that indicates otherwise. Twelve different factors apply when assets are distributed including, but not limited to: the unequal earning power of the parties, the expectation of pension or retirement benefits, contributions made by one spouse to the education or career development of the other, the need of a parent with custody of a child or children of the marriage to occupy the marital residence and use or own its household effects.
