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"Equitable distribution" is followed, meaning that the court attempts to distribute the property in a manner that is "fair and just". This doesn't necessarily mean that the property is distributed evenly, only that it is done in a way that is fair.
To do this, the court will consider a variety of factors, including the parties' income, contributions to the marriage, the standard of living, and even the potential for future income after the divorce is final.
Additional InformationIn an equitable distribution state property that is owned by either spouse is considered to be marital property and can be redistributed in order to make the distribution fair to each party according to their respective needs. You can read more about it at the link below.
Wiki User
∙ 9y ago
Wiki User
∙ 15y agoEquitable distribution is designed to provide for the needs of both spouses as much as possible without worrying about splitting the property down the middle. But because there are so many variables, there is no set rule as to how your property might be divided.
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Differentiate equal distribution from equitable distribution?
Equitable refers to fairness. For example, an equal distrbution of marks in an exam would require that everyone got exactly the same score. An equitable distribution wold reflect the fact that some people gave better answers than others and so were more "deserving" of a higher mark.
If Montana is not a community property state what is it?
Montana is an equitable distribution state.
What was the description of socialistic approach to the goal of equitable distribution of wealth?
The description of socialistic approach tot he goal of equitable distribution of wealth is the democratic process. The socialist's main concern with capitalism is that it creates economic inequality.
What is the meaning of equitable?
Possessing or exhibiting equity; according to natural right or natural justice; marked by a due consideration for what is fair, unbiased, or impartial; just; as an equitable decision; an equitable distribution of an estate; equitable men., That can be sustained or made available or effective in a court of equity, or upon principles of equity jurisprudence; as, an equitable estate; equitable assets, assignment, mortgage, etc.
If North Carolina is not a Community Property state then what is it?
North Carolina is an equitable distribution state. This means that all marital property is split in an equitable manner. This does not mean that it will be equally divided.
How can a husband wife transfer be a fraudulent transfer in an equitable distribution state?
It can be fraudulent "Where jointly-held property is transferred for the purpose of defrauding creditors, the transferor may not then share in the value of the transferred asset for purposes of equitable distribution". Consult legal counsel for more information.
What is equitable income distribution?
Equitable income distribution is the concept or idea of fairness in taxation and welfare. It can refer to equal life chances regardless of identity, to provide all citizens with a basic and equal minimum of income, goods, and services or to increase funds and commitment for redistribution.
In an equitable distribution state is an inheritance received during the marriage considered the sole property of the person that inherited it?
As long as the inheritance is kept separate and apart from the marital assets, an inheritance by one spouse is considered the sole property of the inheriting spouse in an equitable distribution state. If the inheritance is devoted to the so-called "marital pot" by co-mingling it with other assets, it loses its separate identity and becomes just another asset of the marriage subject to equitable distribution.
Is Pennsylvania an equitable distribution state or a community property state?
No Pennsylvania is not a community property state. It does view all property gained over the course of a marriage to be eligible for equitable distribution however, no matter whose name the property is in.
Does the efficiency of the price mechanism ensure that market our based economy is an equitable one?
In the market, prices ration away the shortages of highly desirable goods and the surplus of less desirable ones appearing. This suggests that the market place is very efficient as a means of allocation and distribution. On the other had, the distribution of goods and services may not be equitable. We may summarize by saying that the market entails both positive and negative aspects. The market place is often efficient, but not necessarily equitable.
What are the objects of bankruptcy?
protection of honest debtors, and safeguarding the interests of creditors by means of equitable distribution of the assets of an insolvent debtor among cretiors
What is decentralisation of authority?
This is the process of devolution of power from one central point and distributing it to a wider scope of levels to ensure a equitable distribution of authority
