Seperation and Property Agreement


#1

Mag 7:

  1. No there is not an established time frame to begin division & settlement of the property. Note: It is important to complete this division prior to the divorce.

  2. This is a very general question. As a general rule, if you acquired the property during the marraige, it is considered martial property.

  3. Yes, inheritance and gifts are considered separate property. Note: A portion of the property owned may be considered “divisible,” i.e. there is a marital and separate component. An example: Company 401(k). If you have a 401(k) with your company prior to marriage, a portion of the 401(k) is separate. The contribution to the 401(k) during the marriage is considered marital.

Hope this helps. Good luck

quote:
Originally posted by mag7
1. After agreeing that Divorce is likely, is there a time fream to begin division and settlement of property?
  1. What does NC law say about what is in the house at present when spouses are dividing property?

  2. Is there any property that is omitted(“hands off”) when it comes to division and settlement in divorce cases?


Adrian Davis
Attorney
The Rosen Law Firm
4101 Lake Boone Trail, Suite 200
Raleigh, North Carolina 27607
919.256.1550 direct voice
919.256.1551 direct fax
919.787.6668 main voice
919.787.6361 main fax
NCdivorce.com
email: adavis@rosen.com

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

It is my understanding that if you don’t have this agreement the other party can move back in if they decide to. Also, division of property can be decided so that down the road if the other person tries to change their mind about things you will have something tangible to work with.

Lastly, you want to decide child support and custody as part of your consent order which does stand up in Court during a Divorce.

Make sure that you cover yourself being fair and equitable.


#3

Dear Outty:

The other party may move back into the marital residence if there has been no agreement, but not if the domestic criminal trespass statute applies. Best of luck.

Janet L. Fritts
Attorney at Law
4101 Lake Boone Trail, Suite 200
Raleigh, North Carolina 27607
NCDivorce.com
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
  1. After agreeing that Divorce is likely, is there a time fream to begin division and settlement of property?

  2. What does NC law say about what is in the house at present when spouses are dividing property?

  3. Is there any property that is omitted(“hands off”) when it comes to division and settlement in divorce cases?