Property division is called equitable distribution in the state of North Carolina. It is the process of dividing the assets and debts that existed on the date of separation. It is not necessary to liquidate each asset or to divide each asset and debt individually. Parties can resolve property division by a settlement agreement or by going to court.
Who gets the house? Who will pay the mortgage, car loan and credit card debts? Are you entitled to your spouse’s pension benefits? What happens to a jointly owned business? What about investment assets, recreational property and retirement accounts? Is your spouse entitled to property you inherited or owned prior to marriage? Dedicated, experienced family law attorneys at Vitale Family Law are well-prepared to guide you through the process of property division. Our lawyers are ready to educate you efficiently on what needs to be done to bring your divorce case to completion.
Property division is accomplished by identifying, classifying, valuing and distributing assets. Please see the “Steps to Property Division“ page for a detailed discussion of the process.
Meet Challenges Head-On | Equitable Distribution Of Assets — Principles And Processes
Lawyers at Vitale Family Law are always on the alert for special situations that require careful attention. How can you get possession of marital property before the divorce is complete? What if your spouse is liquidating assets? Our Raleigh property division attorneys can advise you on how to meet particular challenges as you proceed through divorce negotiations.
- If you are in the beginning stages of property division, you can seek to have an interim distribution of property or debt before property division is completed. An interim distribution is sometimes used to get possession of a house, car, furnishings or funds to help offset legal fees or expenses, or to distribute a debt, such as the payment of the mortgage, to one party.
- If you are separated and concerned that your spouse may be liquidating, selling, spending or transferring assets beyond your reach, you can seek a restraining order, an accounting of the asset(s) and to have a receiver appointed.
Get Started On Your North Carolina Property Division Case — Contact Us
Vitale Family Law is here to help you navigate the property division processes in your North Carolina divorce. Feel free to get started by scheduling an initial consultation regarding any family law matter in North Carolina. Call 919-841-5680 or send an email message through this website.