What Happens to Your Home During Divorce?/ Krusch and Sellers, PA
One of the primary issues when couples separate or divorce is who, if anyone, gets the marital home. In North Carolina, this process by which property is divided is called equitable distribution, and the determination regarding the house is covered under that area of the law. Equitable distribution means that marital property and debt must be divided in a way that is fair. Not only must a determination be made about who gets the house, but there are also issues surrounding the timely payments of the mortgage on the house after separation. In the long run, it is almost always easier (and less expensive) to try and reach an agreement with the other party regarding the house, instead of going all the way through the litigation process.