What is division of marital property?

Division of marital property is a process used by divorcing couples in North Carolina to divide the property and assets that they have acquired during their marriage. Marital property is either “separate” or “marital” property and includes money, real estate, investments, and any other property that was acquired by either spouse during the marriage. In North Carolina, all marital property is subject to division during a divorce. The division of marital property in North Carolina is based on the state’s equitable distribution laws. In an equitable distribution, the court will consider a variety of factors, including the duration of the marriage, the income and assets of each spouse, the contributions each spouse made to the marriage, and any other factors the court deems appropriate. The court will then divide the marital property in a way that it deems fair. Equitable distribution doesn’t necessarily mean that the marital property will be split equally. In some cases, one spouse may receive more of the marital assets than the other. The court will determine the division of the marital property based on what it considers fair and equitable under the circumstances. Ultimately, the goal is to ensure that each party receives an equitable share of the marital property.

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What is division of marital property?

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