Property Division in a North Dakota Divorce
In North Dakota, the division of property during a divorce is governed by the principles of equitable distribution. This means that the court will divide the marital property and debts in a manner that it deems fair and equitable, but not necessarily equal. The guiding statute for this process is North Dakota Century Code (N.D.C.C.) § 14-05-24.
Equitable Distribution
Under N.D.C.C. § 14-05-24, when a divorce is granted, the court is required to make an equitable distribution of the property and debts of the parties. The court will consider a variety of factors in determining what is equitable, including the duration of the marriage, the age and health of the parties, their earning abilities, and the nature and value of the property.
The court will also consider the conduct of the parties during the marriage. However, North Dakota is a no-fault divorce state, meaning that the court will not consider marital misconduct in its division of property unless it is relevant to the acquisition of property during the marriage.
Valuation of Marital Property
The valuation date for marital property and debt is either the date mutually agreed upon by the parties or, if the parties do not agree, sixty days before the initially scheduled trial date. If there is a substantial change in the value of an asset or debt between the valuation date and the trial date, the court may adjust the valuation of that asset or debt as necessary to effect an equitable distribution.
Temporary Restraining Provisions
Under Rule 8.4 of the North Dakota Rules of Court, upon service of a summons in a divorce action, both spouses are restrained from disposing of, selling, encumbering, or otherwise dissipating any of the parties’ assets, except for necessities of life, for the necessary generation of income or preservation of assets, or for retaining counsel to carry on or to contest the proceeding. If a spouse violates these provisions, they may be held in contempt of court.
Conclusion
In conclusion, property division in a North Dakota divorce is a complex process that involves the equitable distribution of marital property and debts. It is governed by specific statutes and court rules, and it requires careful consideration of a variety of factors. It is always advisable to consult with a knowledgeable family law attorney to understand the potential implications of property division in a divorce.