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How Is Property Divided in a Divorce in North Carolina?

There are many questions swirling around a divorce, and plenty of them are based on who gets what in a divorce. As with any legal issue, this can get complicated, even frustrating. It is important to understand though. Not only are assets and debts up in the air, but so is your future. Here is an overview to answer some preliminary questions. For the answers pertaining to your unique situation, please do not hesitate to contact a qualified Raleigh divorce lawyer.

Is there community property in North Carolina? Community property entails a 50/50 split of all jointly owned property. North Carolina is not a community property state. A court in this state will divide property along the lines of equitable distribution, that is, find a fair solution, not always an equal division.

Will property division be decided by a judge? This is the case when spouses cannot agree on their own. Otherwise, you two have the chance to come up with your own arrangement and file it with the court. Chances are, the court will go along with your decision. If certain issues are disputed, however, a judge will have to decide what is fair.

What property gets divided? Marital property and divisible property are split. You keep your own separate property. Separate assets and debt are those that you had before you were married. Separate property also includes any inheritance or gifts during the marriage that were for you alone.

What is the difference between marital and divisible property in North Carolina? Marital property means the property that was obtained during marriage up until the separation. This includes retirement benefits, stocks, and more. Divisible property labels some property and debts that crop up during the separation period. The court will not split up your separate items from this time. For example, your spouse will not get any part of what you owe for gambling while separated.

If you have any more questions, or you need a sterling legal advocate on your side, you can rely on Hopper, Hopper & Mulligan, PLLC. Our firm has decades of legal experience to put to work for you. Do not wait to successfully move on in life. Call a Raleigh divorce lawyer today!

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