A judge will divide your assets. North Carolina uses a concept known as the equitable division of assets for the distribution of property.Property can be divided in any amount. A typical separation agreement includes the details of separation, property division, spousal support, and if there are children, child custody and support. Learn which property gets divided when North Carolina couples are separated or get divorced—and how judges decide on a fair distribution of that property. North Carolina follows a system of equitable distribution. When couples divorce in the Tar Heel State, their property is first sorted into various categories. NC and SC courts will typically accept any fair property and debt division arrangement as long as both parties agree.