Distribution
Date: 12/21/2006
Finally, the court must distribute the marital property in an equitable manner. An equal division of the marital property is mandatory under the Equitable Distribution Act, unless the court determines in the exercise of its discretion that such a distribution would be inequitable. A distribution is not subject to reversal on appeal unless the court abused its sound discretion.The factors to be considered in an unequal division are enumerated in section 50-20(c) at sub-sections (1) through (12) of the North Carolina General Statutes, and these factors include: the parties' financial condition at the time the division of property would be effective; support obligations from a prior marriage; length of this marriage; age and health of the parties; need of a custodial parent to occupy or own the marital residence for the benefit of the parties' child or children; the expectation of nonvested pension rights; a party's contributions to the acquisition of property; a party's contributions to the education or career of the other spouse; any direct contribution to the increase in value of the other party's separate property; the relative liquidity of the marital estate; the difficulty of evaluating business interests and the economic desirability of distributing such an asset to one party, "intact and free from any claim or interference by the other party"; tax consequences; acts to maintain or devalue marital property occurring after the date of separation; and any other factor deemed by the court to be just and proper.
Factors within section 50-20(c)(12), which is a catch-all category, may relate to the source, availability, and use by husband and wife of economic resources during the marriage.
Once evidence of any of the factors in section 50-20(c) is introduced, the trial court is required to make findings of fact on such factors, whether or not the judge divides the property unequally between the parties. The trial court is only required to consider the distributional factors on which evidence is presented.
According to express statutory provisions, distribution of marital property must be without regard to the issues of alimony and child support.
