Difference between revisions of "Inventory Affidavit"
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<table align="right" style="background-color:#F8F9FA; align:right; border:1px solid grey;padding:10px;width:300px;font-size:80%;"> | <table align="right" style="background-color:#F8F9FA; align:right; border:1px solid grey;padding:10px;width:300px;font-size:80%;margin-left:10px;"> | ||
<tr><td style="font-size:120%; text-align:center; padding-bottom:5px;" colspan="2"><b>Inventory Affidavit</b><br></td><tr> | <tr><td style="font-size:120%; text-align:center; padding-bottom:5px;" colspan="2"><b>Inventory Affidavit</b><br></td><tr> | ||
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<tr><td style="padding-right:10px"><b>Takeaway</b></td><Td>Each spouse is entitled to the other's financial records.</td></tr> | <tr><td style="padding-right:10px"><b>Takeaway</b></td><Td>Each spouse is entitled to the other's financial records.</td></tr> | ||
</table> | </table> | ||
'''Inventory Affidavits''' are forms used to disclose each spouse's property and debt to the court and the other spouse in an [[Equitable Distribution]] lawsuit. Inventory Affidavits are a mandatory part of the litigation process<ref name="inventoryaffidavit" /> | '''Inventory Affidavits''' are forms used to disclose each spouse's property and debt to the court and the other spouse in an [[Equitable Distribution|equitable distribution]] lawsuit. Inventory Affidavits are a mandatory part of the litigation process.<ref name="inventoryaffidavit" /> Similar financial disclosures are often made in out-of-court negotiations as well. In addition to the affidavit itself, spouses are required to provide extensive financial records to their spouse and to file a "[[Certification of Initial Disclosures]]" with the court promising the records were shared. | ||
==Disclosures== | ==Disclosures== | ||
Each county courthouse has | An Inventory Affidavit is a signed, notarized document where each spouse lists all of their property and debt. In addition to the affidavit itself, the spouses are required to share extensive financial records. Each individual county courthouse has their own rules about exactly what financial records must be disclosed. However, generally each item on the affidavit should have records associated with it supporting the asserted value of the item as of the [[Date of Separation|separation date]].<ref name="value">[https://www.ncleg.net/enactedlegislation/statutes/html/bysection/chapter_50/gs_50-21.html#:~:text=(a)%20At%20any%20time%20after,in%20the%20cause%20as%20provided §50-21(b)]. "For purposes of equitable distribution, marital property shall be valued as of the date of the separation of the parties..."</ref> | ||
Your court's affidavit form will likely ask you to categorize property and debt as "marital," "divisible," or "separate." The Equitable Distribution page has [[Equitable_Distribution#Categorization|a section about how to categorize property and debt]]. The initial affidavit is not binding at trial.<ref name="inventoryaffidavit"/> However, each courthouse has a different process for providing a final, binding affidavit prior to trial. | |||
==Deadlines== | ==Deadlines== | ||
The spouse that initially files an equitable distribution claim with the court has 90 days after serving their claim on the other spouse to provide an inventory affidavit. | The spouse that initially files an equitable distribution claim with the court has 90 days after serving their claim on the other spouse to provide an inventory affidavit. Once the first affidavit is provided, the other spouse has 30 days later to provide their own inventory affidavit.<ref name="inventoryaffidavit">[https://www.ncleg.net/enactedlegislation/statutes/html/bysection/chapter_50/gs_50-21.html §50-21(a)]</ref> If one spouse refuses to provide an inventory affidavit and association evidence, the other spouse can file a "[[Motion to Compel]]" to get a court order. If that still doesn't work, a motion for [[Contempt|contempt]] is next. If the court finds your spouse in contempt for refusing to comply with the court order, the court will put your spouse in prison until they comply. | ||
==Local Forms== | ==Local Forms== | ||
Each individual county courthouse uses its own inventory affidavit and certification of initial disclosures forms. | Each individual county courthouse uses its own inventory affidavit and certification of initial disclosures forms. The following list is incomplete, but Mr. King will try to add to it over time: | ||
* Wake County: [https://kinglawnc.com/NCDivorcewiki/images/e/e5/WAKE-DOM-19_Equitable_Distribution_Inventory_Affidavit.doc WAKE-DOM-19] | |||
* Wake County: [https://kinglawnc.com/NCDivorcewiki/images/e/e5/WAKE-DOM-19_Equitable_Distribution_Inventory_Affidavit.doc | |||
* Durham County: [https://www.nccourts.gov/assets/documents/local-rules-forms/2109.docx?VersionId=y2441BhdhilDvTcVU1lMCRWr9VlIKKlv DUR-DOM-10] | * Durham County: [https://www.nccourts.gov/assets/documents/local-rules-forms/2109.docx?VersionId=y2441BhdhilDvTcVU1lMCRWr9VlIKKlv DUR-DOM-10] | ||
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==References== | ==References== | ||
{{reflist}} | {{reflist}} | ||
[[Category:How To]] | |||
Latest revision as of 14:47, 30 October 2022
| Inventory Affidavit | |
| Statute: | N.C.G.S. §50-21(a) |
| Description | Inventory affidavits are used to disclose property and debt. |
| Takeaway | Each spouse is entitled to the other's financial records. |
Inventory Affidavits are forms used to disclose each spouse's property and debt to the court and the other spouse in an equitable distribution lawsuit. Inventory Affidavits are a mandatory part of the litigation process.[1] Similar financial disclosures are often made in out-of-court negotiations as well. In addition to the affidavit itself, spouses are required to provide extensive financial records to their spouse and to file a "Certification of Initial Disclosures" with the court promising the records were shared.
Disclosures
An Inventory Affidavit is a signed, notarized document where each spouse lists all of their property and debt. In addition to the affidavit itself, the spouses are required to share extensive financial records. Each individual county courthouse has their own rules about exactly what financial records must be disclosed. However, generally each item on the affidavit should have records associated with it supporting the asserted value of the item as of the separation date.[2]
Your court's affidavit form will likely ask you to categorize property and debt as "marital," "divisible," or "separate." The Equitable Distribution page has a section about how to categorize property and debt. The initial affidavit is not binding at trial.[1] However, each courthouse has a different process for providing a final, binding affidavit prior to trial.
Deadlines
The spouse that initially files an equitable distribution claim with the court has 90 days after serving their claim on the other spouse to provide an inventory affidavit. Once the first affidavit is provided, the other spouse has 30 days later to provide their own inventory affidavit.[1] If one spouse refuses to provide an inventory affidavit and association evidence, the other spouse can file a "Motion to Compel" to get a court order. If that still doesn't work, a motion for contempt is next. If the court finds your spouse in contempt for refusing to comply with the court order, the court will put your spouse in prison until they comply.
Local Forms
Each individual county courthouse uses its own inventory affidavit and certification of initial disclosures forms. The following list is incomplete, but Mr. King will try to add to it over time:
- Wake County: WAKE-DOM-19
- Durham County: DUR-DOM-10
Contact an Attorney
This wiki is provided by North Carolina divorce lawyer David King and his firm King @ Law. You can learn more about King @ Law at www.kinglawnc.com. If you are looking to hire an attorney, have questions, or would like to contribute to this wiki, you can contact attorney King using any of the following methods:
- Schedule a Consultation
- Start a Facebook Chat
- Email: david@kinglawnc.com
- Voicemail: 919 706 5322