North Carolina Divorce Lawyers Blog

Articles Tagged with property division

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Either party in a divorce can request equitable distribution, but that request must be made before the divorce is final.[1]

Equitable distribution is the process in which the court determines how best to divide the spouses’ assets and debts, specifically their marital property and divisible property.[2] This is often a preferred method when there are significant assets, numerous financial accounts, or multiple pieces of real property. Continue reading →

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Equitable distribution cases involving high-net-worth parties and spouses with significant assets require careful consideration to classify, valuate, and distribute property. Each piece of property must be classified as marital, separate, or divisible as a first step in equitable distribution. Determining which category each asset belongs to can be a lengthy process when there is a significant number, and valuating all the property presents further complexities. Continue reading →

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READ V. READ, 2023-NCCOA-______ (2023) 

Imagine that you and your wife separate from each other. It is now 15 years later. While you have both moved forward in life, neither of you filed for divorce. You are still married. One day you get a notice in the mail. There was an outstanding loan that originated during the marriage, while you two were still together, that has not been paid and now the lenders are threatening some legal action. Is it too late to file for equitable distribution and have a court order that you both pay on the debt?  Continue reading →

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FOSTER V. FOSTER, 2023-NCCOA-______ (2023) 

  1. Facts: Plaintiff and Defendant married in 2014 and separated at the end of 2019. Plaintiff filed for custody and equitable distribution (ED). Defendant counterclaimed. A trial on ED was held in February and March of 2022. There, the trial court entered a judgment with a slight unequal division in Defendant’s favor. One item that classified as Plaintiff’s separate property was an account with funds sourced from a settlement Plaintiff received pursuant to the Longshore and Harbor Workers’ Compensation Act (LHWCA), and some items of personal property purchased with those funds. Defendant appealed.  

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When it comes to the division of marital property, one question we are commonly asked is what happens if the value of an asset, such as a home, increases during the pendency of the case? In North Carolina, there is a specific provision of the law addressing this exact scenario: divisible property. 

Divisible property is a term within North Carolina’s equitable distribution laws that relate to the distribution of assets and liabilities in a separation and divorce.   Continue reading →

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Achraf Hakimi is an unknown name to most Americans. However, in Europe and most of the world, he is famous as the starting right back for Paris Saint-Germain, one of the most famous soccer teams in the world, and he represented his home country, Morocco, in the latest World Cup. Needless to say, Mr. Hakimi is quite successful on the football pitch (soccer field) and has been rewarded handsomely for his talent. His contract at Paris-Saint Germain is rumored to be in the range of a million dollars a month. He’s had some legal issues recently; specifically he is under investigation by French authorities for an alleged rape. And even more recently, likely due to the underlying allegations, his wife has filed for divorce.  Continue reading →

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Dolan v. Dolan, 148 N.C. App. 256 (2002). 

  1. Facts: Plaintiff and Defendant married in 1971. Plaintiff went to optometry school and eventually he started his own practice and also bought rental properties to supplement the family income. The parties separated in 1994. A claim for Equitable Distribution (ED) was brought in a counterclaim by the Defendant. For ED, the parties entered into certain stipulations. They stipulated to the values of the rental properties. There were some contentions in the proposed order. However, the Judge signed an Order, which found that Plaintiff would incur certain amounts for taxes for the “liquidation” of rental properties distributed to him, if he decided to do so. The Order also found that Defendant would incur taxes for the liquidation of the rental properties distributed to her, if she decided to do so. Defendant appeals. 

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DONATI V. DONATI, 2023-NCCOA-________ (2023) (unpublished). 

  1. Facts: Husband and Wife separated and a claim for equitable distribution was filed by Husband, who claimed that he ought to receive more than fifty percent of all marital and divisible property. Husband contended that he sold his separate residence, a house owned before the marriage, and then put about $60,000 of those proceeds into the marital home. The trial court found that an in-kind distribution was equitable, and that an equal division was not. Husband appealed and argued that he was entitled to the return or reimbursement or credit for the $60,000 that he claims was his separate contribution to the marital property. 

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Brady v. Brady, 2022 NCCOA 200 (N.C. Ct. App. 2022)

Brady v. Brady came before the NC Court of Appeals on Defendant Husband’s appeal.

ISSUE: What findings of facts are required to support awards of alimony, a distributive award, and the unequal distribution of assets. Continue reading →

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Dozier v. Dozier, 2022-NCCOA-307 (unpublished) (2022)

 

In North Carolina, an Equitable Distribution (ED) judgment is a final court-ordered distribution of the marital assets. Unlike child support, alimony, or custody, these are not modifiable upon showing the court that there has been a substantial change in circumstances. A rule 60 motion is one that is essentially asking the court for relief from the judgment entered. There are many grounds for asking relief. In an interesting twist, one party sought to void one particular section of an ED judgment, rather than the whole thing.

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