Marital assets - mine vs his?

North Carolina Divorce Law Divorce and Separation Answers
1

One follow up that may be important:

My money is in an account with only my name. He has his own seperate checking account. We do not have any accounts with both our names on them.

2

Dear mpcv:

When was the land purchased that is in your husband’s names? When were the cars purchased? Before or during the marriage?

  1. Yes

  2. Yes, but only if you file litigation AND he has committed some sort of marital fault. Has he done something wrong (why do you want to separate)?

  3. Sorry, I did not read far enough before answering. This is a good idea (filing for DB&B) for you to get him out of the home. After you file, have a hearing, and he moves out, then you must wait one year to be divorced.

Which account the money sits in is not the issue, but if it was earned/received during the marriage is the issue. Thank you.

  1. The land is separate property, unless both names are on the deed. Are both names on the deed?

Janet L. Fritts
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

10925 David Taylor Drive, Suite 100
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

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.

3

I make about $80,000 a year and my husband makes about $45,000. We have been married 3 years

Our assets are as follows:
house (bought for $75,000 now worth $250,000) and 2 cars.

There are 2 pieces of land, one in his name solely (bought for $38,000 and now worth $200,000) and one in his mothers and his name jointly. (bought for $48,000 and now worth $225,000)

I pay the house mortgage, all bills incurred for the house and the payment on the vehicle that I drive. I do not have any credit card debt.

He pays his truck payment, a land payment on the land that is in his name and his credit card bills (I believe he has about $10,000 in debt) and the cards are in his name solely.

I work on commision and make the chunk of my money in the summer, some remains in savings but it is also what I live off over the winter. I currently have about $20,000 in my account.

These are my questions:

  1. Is the $20,000 in my account considered marital assets? He could have a savings also but spends more then he makes.

  2. Being that the house is in both our names he refuses to move out. Is there a way to force him too? Do I need to file a seperation first? What are the steps?

  3. My husband is an alcoholic and I am thinking about filing a Divorce from Bed & Board. I am understanding that this is an authorized seperation but does not end our marriage. What would be the reason for doing this and what do you do after to legally end the marriage?

  4. Does the amount of money that I have paid into the house matter when it is divided? I have not made any payments on the land but if I did not pay the house mortgage he would not be able to pay the land mortgage. He purchased the land about 6 months before we were married. I am hoping to keep the house and understand that I may have to pay him something for it, do I have any right to the land?

Thanks
MP