A BILL TO BE ENTITLED AN ACT AMENDING THE DEFINITION OF MARITAL PROPERTY TO PROVIDE THAT ENTIRETIES PROPERTY IS SUBJECT TO THE SAME BURDEN OF PROOF IN REBUTTING THE PRESUMPTION AS ALL PROPERTY CLASSIFIED AS MARITAL PROPERTY AND AMENDING THE DEFINITION OF DIVISIBLE PROPERTY TO CLARIFY THAT INCREASES AND DECREASES IN MARITAL DEBT MEANS PASSIVE INCREASES AND PASSIVE DECREASES IN MARITAL DEBT UNDER THE LAWS PERTAINING TO EQUITABLE DISTRIBUTION.
Amends the definition of marital property(GS 50-20(b)) to provide that it is a presumption, rebuttable by the greater weight of the evidence,that all real property creating a tenancy by the entirety, and acquired after the date of marriage and before the date the couple separates, is marital property. Also amends the definition of divisible property to clarify that thetermmeanspassive increases and passive decreases in marital debt and financing charges and interest related to marital debt under equitable distribution laws.
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