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Attorneys at Raleigh Divorce Law Firm

Is property division final?

On Behalf of | Jul 23, 2024 | Property Division |

As life changes, it is possible to adjust certain agreements made in your divorce. It is most common to adjust the child support payments and even the custody arrangement, should you or your family experience significant life changes.

However, what about your property division agreement? Is that final?

Answer? Yes.

The order for property division is final once you finalize the divorce.

That is why it is critical to take each step of asset division carefully, from the inventory of marital property to the review of the final agreement. This can help you secure your rights and finances during the divorce.

There is a potential exception

It is important to note that modifications to property division agreements are very rare. After all, once property is divided, it is done – unlike a child support or child custody arrangement that requires active participation after the divorce.

Even so, it may be possible to revise a property division settlement if you discover your spouse committed fraud or financial misconduct, including:

  • Hiding assets or maintaining secret financial accounts
  • “Gifting” assets to a friend or family member, then recovering them after the divorce
  • Underreporting or misrepresenting income or business assets

Such behavior may have prevented equitable distribution under North Carolina’s guidelines. That is why it is important to watch for suspicious financial activity before and during your divorce. However, if you discover this after the divorce, you may have options to obtain a fair settlement.

You should document any evidence you find of this misrepresentation to supplement your claim. It is often beneficial to seek legal guidance in this situation, to determine just how you can move forward and achieve fairness.

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