If you are currently going through a divorce and are unable to agree on division of property, the court will decide for you.
The process of determining equitable distribution is a three-step one that most courts use in divorce cases. To begin, the court will identify which property is deemed marital and which is separate. In general, separate property is that which was owned before the marriage, gifts and inherited property. The rest is considered marital property unless special exceptions can be shown.
Once the property has been properly divided, then the process of valuation will follow. Each piece of marital property will be given a fair market price; this is usually accomplished by an appraiser or other professional that can dictate the current market value.
And finally, once the property has been evaluated the court will then split the marital property in an equitable manner. The distribution of property is not subject to reversal unless one side can prove that the court did not follow the above guidelines.
Have questions pertaining to equitable distribution? Contact our law office today to speak with a Raleigh divorce lawyer.