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North Carolina Property Settlement Agreement with Adult Children

North Carolina Property Settlement Agreement with Adult Children

Name: North Carolina Property Settlement Agreement with Adult Children
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.55 (485 reviews)

Category:

North Carolina Family Law - Divorce - Adult Children

State:

North Carolina

Control #:

NC-804D

Format:

Instant download

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Description

Separation and Property Settlement Agreement: This document provides for the final distribution of any assets and debts of the parties. It fiurther provides for support of any children of the marriage, as well as any other agreements reached between the parties. It is available in Word or fillable PDF format.

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FAQ

The main reasons for divorce or separation agreements to be set aside include duress, coercion, unconscionability, mistake and lack of complete financial disclosure. These are mistakes that are often made when there has been no independent legal advice.

A separation agreement is not valid in North Carolina unless both parties have signed and their signatures are notarized.Coercion, fraud, undue influence or lack of knowledge will void the terms of a separation agreement.

A separation agreement is a legal document that when signed and notarized by you and your spouse can act as a legally binding contract that is separate from or survives the divorce. Such a contract is enforceable, meaning you can take legal action if your spouse does not adhere to the terms of the contract.

In North Carolina, the courts will divide property in a way that is equitable, or fair.This is true unless the court determines that dividing the assets equally is not fair. Marital property is defined as all property acquired by either party, or both, after the date of marriage but before the date of separation.

Marital property is all property acquired or earned during the marriage up until the date of separation. Pensions, retirement benefits, and other deferred compensation rights earned during the marriage are also marital property.

A spouse is typically entitled to some amount of alimony or spousal support, depending on the decision of the NC divorce courts. A spouse may also be entitled to a 50/50 split of marital property if so decided by the courts.

North Carolina law presumes that an equal (50/50) division of marital property is equitable, or fair. However, the law provides for many factors that allow for an unequal distribution of property, in situations where an equal division would not be fair.

Unless the terms of the agreement are unconscionable, or the agreement itself is a result of fraud, coercion or duress, the courts tend to accept the terms as written. Attempting to have a separation agreement overturned is difficult, but not impossible.

In North Carolina, equitable distribution is the process of dividing assets and debts that were acquired during marriage. The theory behind equitable distribution is that marriage is a shared partnership and therefore each spouse has an equal right to the marital property.

North Carolina Property Settlement Agreement with Adult Children

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FAQ

What voids a legal separation?

What voids a separation agreement in NC?

Is a notarized separation agreement legally binding?

How are assets divided in divorce in NC?

What is marital property in NC?

What is a spouse entitled to in a divorce in NC?

Is NC A 50/50 divorce state?

Can separation agreements be overturned?

How does equitable distribution work in NC?

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