Equitable distribution is both marital assets and debts. I don’t think that you can allow her to be partly responsible for the equity loan if you do not allow her to have a claim on the property. I may be wrong though, so hopefuly an attorney will respond, but here’s what I found on “Property”:
The definition of marital property is found in section 50-20(b)(1) of the North Carolina General Statutes – all real and personal property acquired by either spouse during the course of the marriage and before the date of separation, and “presently owned,” except property determined to be separate property in accordance with the statute. The statutory definition of marital property now contains a presumption that all property acquired after the date of marriage and before separation is marital (except separate property by definition); the presumption is rebuttable by a preponderance of the evidence.
The definition of separate property is found in section 50-20(b)(2) of the North Carolina General Statutes – all real and personal property acquired before marriage, or property acquired during the marriage by bequest, devise, descent or gift.
Good luck!