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Quick Facts on Property Division
Equitable Distribution is the process by which the Court identifies, classifies, values and distributes property among two people who are or have been married.
There are three types of property.
Despite the common misperception that the term, "Equitable Distribution" implies that marital property and divisible property is divided equally in the event of separation and divorce, the term really means that marital property and divisible property is distributed by the Court according to principles of fairness.
Elements of Equitable Distribution:
Marital and divisible property is distributed according to an array of distributional factors, discussed in detail below.
The Equitable Distribution process in Mecklenburg County, North Carolina can be broadly explained by the following illustration:
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North Carolina family law recognizes legal separation provided that the separation agreement is in writing and acknowledged by both parties before a certifying officer.
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