Equitable distribution statute


#1

Dear IM Stuck:

Greetings. Yes, you can ask the court to take into account the premarital funds you placed into marital property, but when you deposited the marital funds into the marital property you created a presumption that you were “gifting” the funds to the marriage. It will therefore be up to the court if you should obtain more than a 50% division of the marital assets due to your gift of the funds into the marital residence. It is clearly a negotiating factor. Best of luck.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
RosenDivorcecom
919-787-6668

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#2

Thanks Janet for the reply. I wonder if length of marriage is a factor? We’ve been married less than 5 yrs.

I M Stuck


#3

Dear IM Stuck:

Greetings. Yes, the duration of the marriage is one of the factors the court must consider when awarding an equitable distribution. Best of luck.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
RosenDivorcecom
919-787-6668

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#4

Reading thru this forum, I found if I had premarital funds and after marriage used some for a downpayment on a jointly title home, then all equity is considered marital and my wife is entitled to a share.

I read a response to another post by Lee Rosen which stated

“The distributional factors of the equitable distribution statute should be considered in deciding how to divide the house”.

I’m confused. Does that mean I can/can not deduct my original downpayment and divide the balance of the equity? Is the deposit considered “gift to the marriage”?

Thanks in advance

I M Stuck