North Carolina Divorce Lawyers Blog

Articles Tagged with property division

Published on:

By

Equitable distribution in North Carolina is presumed to mean an equal split of marital property, but what happens if this division is unfair or unjust?

Continue reading →

Published on:

By

North Carolina family law cases often decide on some of the most important elements of a person’s life. From property and assets in a divorce to child custody arrangements, the outcome of these cases can significantly impact everyone involved. If you feel that the court’s decision is incorrect or unjust, you may be able to file an appeal.

Continue reading →

Published on:

By

The US Constitution’s Full Faith and Credit Clause[1] requires states to honor certain orders from other states, including divorces, child custody, and spousal support. However, not every family law matter is straightforward, and moving to North Carolina from out-of-state may present some challenges and unexpected changes. Continue reading →

Published on:

By

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 →

Published on:

By

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 →

Published on:

By

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 →

Published on:

By

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.  

  Continue reading →

Published on:

By

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 →

Published on:

By

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 →

Published on:

By

Dolan v. Dolan, 148 N.C. App. 256 (2002). 

  1. Facts: Plaintiff and Defendant married in 1971. Plaintiff went to optometry school and eventually he started his own practice and also bought rental properties to supplement the family income. The parties separated in 1994. A claim for Equitable Distribution (ED) was brought in a counterclaim by the Defendant. For ED, the parties entered into certain stipulations. They stipulated to the values of the rental properties. There were some contentions in the proposed order. However, the Judge signed an Order, which found that Plaintiff would incur certain amounts for taxes for the “liquidation” of rental properties distributed to him, if he decided to do so. The Order also found that Defendant would incur taxes for the liquidation of the rental properties distributed to her, if she decided to do so. Defendant appeals. 

Continue reading →