Understanding “Divisible Property”

In Separation & Divorce by Elizabeth Stephenson

North Carolina is an equitable division state. This means that when a couple separates and divorces, all of a couple’s property is identified and classified as either marital property or separate property. Then the court considers the net value of just the marital property and determines an equitable division of the marital estate. While there are some exceptions, marital property is generally all property that is earned or obtained between the date of marriage and the date of separation. The date of separation is critical when it comes to property division because it creates a cut off point for what property is considered part of the marriage, and it also provides the date at which the fair market value of marital property should be estimated. There are a couple of …