Raleigh Property Division
If you are going through a divorce or separation in Raleigh you should know that North Carolina law takes the position that marriage is a partnership to which both spouses make vital contributions and which entitles each party to receive a fair, or equitable, share of the property acquired during the marriage. If you do not have a Separation Agreement, you may file for equitable distribution of the property prior to the entry of an absolutely divorce. However, in Raleigh, if the equitable distribution of property is not filed in prior to the entry of absolute divorce, you lose the right to file the agreement at all.
When you do have to undergo equitable distribution of property in Raleigh, first all the property is classified as either marital property, separate property or a combination of both. Once the property has all been classified, you enter the second step of property division which is to value the property in question. The last step in dividing property during a divorce or separation in Raleigh is to actually distribute the property, which is based on a number of different factors.
Property division and the equitable distribution of property in Raleigh during a divorce or separation can be a complicated process. At Marshall & Taylor, we are here to help you through this process. Fill out the contact form below to get more information on property division or to schedule a confidential assessment.