North Carolina Divorce Lawyers Blog

Articles Posted in Property Division

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Either party in a divorce can request equitable distribution, but that request must be made before the divorce is final.[1]

Equitable distribution is the process in which the court determines how best to divide the spouses’ assets and debts, specifically their marital property and divisible property.[2] This is often a preferred method when there are significant assets, numerous financial accounts, or multiple pieces of real property. Continue reading →

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Equitable distribution cases involving high-net-worth parties and spouses with significant assets require careful consideration to classify, valuate, and distribute property. Each piece of property must be classified as marital, separate, or divisible as a first step in equitable distribution. Determining which category each asset belongs to can be a lengthy process when there is a significant number, and valuating all the property presents further complexities. Continue reading →

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Property ownership is a crucial aspect of real estate transactions, legal matters, and research projects. When it comes to finding deeds and other property-related information in Guilford County, the GIS website (https://gisdv.guilfordcountync.gov/guilford/) is a valuable resource. This blog will guide you through the process of effectively utilizing the website to find the deeds you need. Continue reading →

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Property division can be one of the most contentious parts of a divorce. Further complicating this process is the fact that courts must determine not just how marital property should be divided but even what qualifies as marital property. Equitable distribution is an option in North Carolina divorces, but the process for requesting it is not standardized throughout the state[1]. Some courts and localities have specific rules regarding filing for equitable distribution, so consulting with a Greensboro divorce lawyer will ensure the district requirements are met. Continue reading →

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Equitable distribution of marital assets and debts is important to ensure that both spouses have their fair share of the property acquired during the marriage. It is rare that divorcing couples can approach property division conversations reasonably or impartially, which is why courts step in as objective third parties and distribute the property equitably.

When there are few marital assets or division is expected to be simple, North Carolina has a worksheet that can be used to determine an equitable distribution of assets[1]. This worksheet does not preclude the need for a hearing, but it can make the process of property division simpler once the spouses go before a judge. Continue reading →

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READ V. READ, 2023-NCCOA-______ (2023) 

Imagine that you and your wife separate from each other. It is now 15 years later. While you have both moved forward in life, neither of you filed for divorce. You are still married. One day you get a notice in the mail. There was an outstanding loan that originated during the marriage, while you two were still together, that has not been paid and now the lenders are threatening some legal action. Is it too late to file for equitable distribution and have a court order that you both pay on the debt?  Continue reading →

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WELCH V. WELCH, 2023-NCCOA-______ (2023) 

  1. Facts: Plaintiff and Defendant married in 1981. In 2007, the parties initiated divorce proceedings, including filing for equitable distribution (ED). In 2008, the parties entered into a consent judgment wherein marital property was distributed. One such item was an IRA at Charles Schwab. Pursuant to the parties’ consent judgment, each party was supposed to receive half of this IRA. This never happened, and eleven years had passed by the time Defendant realized it. After exhausting remedies under contempt and the rules of civil procedure due to being time-barred by the statute of limitations, Defendant moved for the entry of a domestic relations order (DRO) under the ED statute. This too was denied by the trial court, citing the ten-year statute of limitations. Defendant appealed. 

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FOSTER V. FOSTER, 2023-NCCOA-______ (2023) 

  1. Facts: Plaintiff and Defendant married in 2014 and separated at the end of 2019. Plaintiff filed for custody and equitable distribution (ED). Defendant counterclaimed. A trial on ED was held in February and March of 2022. There, the trial court entered a judgment with a slight unequal division in Defendant’s favor. One item that classified as Plaintiff’s separate property was an account with funds sourced from a settlement Plaintiff received pursuant to the Longshore and Harbor Workers’ Compensation Act (LHWCA), and some items of personal property purchased with those funds. Defendant appealed.  

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When it comes to the division of marital property, one question we are commonly asked is what happens if the value of an asset, such as a home, increases during the pendency of the case? In North Carolina, there is a specific provision of the law addressing this exact scenario: divisible property. 

Divisible property is a term within North Carolina’s equitable distribution laws that relate to the distribution of assets and liabilities in a separation and divorce.   Continue reading →

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Achraf Hakimi is an unknown name to most Americans. However, in Europe and most of the world, he is famous as the starting right back for Paris Saint-Germain, one of the most famous soccer teams in the world, and he represented his home country, Morocco, in the latest World Cup. Needless to say, Mr. Hakimi is quite successful on the football pitch (soccer field) and has been rewarded handsomely for his talent. His contract at Paris-Saint Germain is rumored to be in the range of a million dollars a month. He’s had some legal issues recently; specifically he is under investigation by French authorities for an alleged rape. And even more recently, likely due to the underlying allegations, his wife has filed for divorce.  Continue reading →