Division of Property
North Carolina is an equitable distribution state, which means that the separate property of each party is not subject to division. Separate property includes everything acquired by each spouse before the marriage, personal gifts and inheritances, and any property acquired in exchange for separate assets. All the marital property of the couple acquired during the marriage shall be divided by the court equitably.
To determine what would be fair in a certain divorce case, the court considers factors such as:
- each spouse's income, property, and earning capacity;
- each spouse's financial liabilities;
- the length of the marriage;
- the age and health of both spouses;
- any equitable claim to, interest in, or direct or indirect contribution made to the acquisition of such marital property by the party not having title;
- and any other factors which the court may deem as relevant.