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Definition of Marital Property Chapter 50-13 of the North Carolina General Statutes defines marital property as all real and personal property acquired by either spouse during the course of the marriage and before the date of separation, and the property must be presently owned.
Types of Property to Divide North Carolina classifies property in a divorce as either: Marital property is all property acquired or earned during the marriage. Divisible property includes marital assets or debts that change in value or income received after the separation.
Settlements mean that the case is not decided by the Judge (Court). Instead, you and your spouse agree to resolve the matter without the Judge making a decision. Settlements can happen before the day of trial, on the day the trial is scheduled, or even in the middle of the trial.
Definition of Marital Property Chapter 50-13 of the North Carolina General Statutes defines marital property as all real and personal property acquired by either spouse during the course of the marriage and before the date of separation, and the property must be presently owned.
Marital settlement agreements, also known as divorce settlement agreements, marital termination agreements, separation agreements, or stipulations of settlements, are written contracts between divorcing spouses of their responsibilities and rights after divorce. Once formed, both parties are legally bound to them.
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If they were acquired before marriage, or after marriage with separate funds, they are separate assets. If they were acquired after marriage using marital funds, they are marital property that will be divided between the spouses.
Moving out of the marital home may require permission from the other spouse to avoid the possible charge of abandonment, and communication with the spouse and a legal professional in this situation is key. The person that moves out may still have a right to the marital home during a divorce or even in separation.
The majority of states, including North Carolina, follow the common law property system. Under the common law system, each spouse solely owns and controls any property he or she acquires during the marriage and titles in their name.
Separate property includes: Inherited property, such as money or real estate. Property acquired prior to marriageincluding real estate, bank accounts, and vehicles. Gifts to one spouse by a third person, although gifts from one spouse to the other are marital assets.
A Separation and Property Division Agreement (also known as a settlement agreement) is a written agreement setting out how a couples property is to be divided following their separation.

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