COVID-19 UPDATE: Woodruff Family Law Group Remains Open and Operational - More Information Click Here.

Articles Tagged with property settlement

Published on:

By: Y. Michael Yin, JD

Rolls v. Rolls, 706 S.E.2d 842 (2010) (unpublished)

In North Carolina, Equitable Distribution can be settled without ever needing to step into the courthouse. Separation Agreements and Property Settlements are common ways to resolve the issues incident to a divorce. They are the will of the parties in a separation, distilled onto paper. They are contracts, and there are very precise rules for formation and enforcement of contracts. As we see below, a separation agreement may have been faulty, but it was the actions of a party that doomed his own arguments.

(a) Facts: Plaintiff wife and Defendant husband married in 1980 and separated in 2007. The parties filed a separation agreement in 2007, where they waived equitable distribution and acknowledged that both parties made full disclosure of all assets and debts. However, during the absolute divorce portion of their case, Defendant pled that there was in fact not a full disclosure of facts, and he requested equitable distribution in a counterclaim. In 2009, the trial court entered a Domestic Relations Order whereby half of Plaintiff’s IRA would be transferred to Defendant in accordance with the 2007 separation agreement. Plaintiff then filed a motion for summary judgment to dismiss the counterclaim, which was granted. Defendant appealed.