Equitable Distribution
| Equitable Distribution | |
| Statute: | N.C.G.S. § 50-20 |
| Description | How property and debt are distributed between the spouses |
| Takeaway | Most of the time, most property/debt is divided 50/50, regardless of which spouse is on the title. |
Equitable Distribution means the fair distribution of property and debt between the spouses. In most cases, most property and debt of either spouse is divided 50/50, regardless of which spouse is on the title. However, there are many rules and exceptions. Courts determine equitable distribution in three stages: (1) Categorization (2) Value (3) Distribution.
When Started or Stopped
You can file a lawsuit for equitable distribution after you and your spouse begin living in separate homes[1] so long as you file a lawsuit for it before the court signs a divorce decree.Cite error: Invalid <ref> tag; name cannot be a simple integer. Use a descriptive title There are some exceptions involving divorce decrees secured after an unusual or improper service of process.Cite error: Invalid <ref> tag; name cannot be a simple integer. Use a descriptive title
Categorization
Property or debt can be characterized as "marital", "divisible", or "separate". Separate property is the only property that is not divided between the spouses.