Separation Agreement Marital Property

A separation agreement is a document used by two people in a marriage to divide their property and responsibilities in preparing for a separation or divorce. If you do not sign a conjugal (or successor) contract, you are deemed to accept the constitution of a “community of property”. Under this system, you and your partner`s pre-marriage debts are considered merging when you get married. You can derogate from this legislation by concluding alternative agreements in the form of a marriage or inheritance contract. In a “state of equitable distribution”, the court “fairly” shares marital property. The court generally takes into account the duration of the marriage, the age, the state of health, the behaviour of the parties, the profession, skills and employment of the parties. Equitable division does not mean equal distribution and rarely is property divided equally. According to North Carolina`s equitable distribution laws, it can be assumed that all real estate that is treated as tenant by the whole acquired during the marriage and before the date of separation is marital property. There is therefore a presumption that the party who owned the property before the marriage gave his separate property to the marital succession by returning the property in the common name of the parties. A party may rebut this presumption of gift if sufficient evidence can be provided. Although New York law now provides for a divorce innocently, if you or your spouse are able to prove that you have lived separately and separately under a written separation agreement and have complied with the provisions of that separation agreement for more than a year, you can get a divorce decision on that basis alone.

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