How is property divided in a divorce?

In North Carolina, when couples get divorced, the property they acquired during the marriage is divided in a process called equitable distribution. Equitable distribution means that the court looks at a variety of factors when dividing the property, such as the length of the marriage, the age and health of each spouse, and the contribution of each spouse towards the marriage. The goal of equitable distribution is to divide the property in an equitable and fair way, which means it is not necessarily an equal split. The court must first decide what property is marital property and thus subject to division. “Marital property” includes assets and debts acquired during the marriage. This includes real estate, bank accounts, stocks, vehicles, and pensions. Each spouse’s separate property, or property acquired before the marriage, is not subject to division. Once the court determines what property is marital property and should be divided, it must then determine how to divide the property. The court may award one spouse the entire marital property or the court may divide the property between the spouses. When the court orders the division of the marital property, it is required to consider the factors of the case and divide the property in an equitable way. The court is also required to consider whether a spousal support award is appropriate. Lastly, after the court has made a spousal support order and ordered an equitable distribution of the property, the court will enter a Final Decree of Divorce that contains the court’s decisions. Once the Final Decree of Divorce is entered, the property division is final and the court’s decisions are binding on the parties.

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