The Division of the Overall Estate

• The former marital residence might be your only asset, or it may be one of several. North Carolina divides marital property and debt by looking at the estate as a whole and equitably dividing its value between you and your ex. This means that while each of you may be entitled to an equitable share in a specific piece of property, you might receive that value in the form of another asset or cash payments. If you have another large asset in your name, the court might give the house to your ex in order to balance it off.
  
  

Whose Name the House Is In

• Although the name that appears on a residence doensn't affect its character as marital or separate, it can affect how a court distributes it. North Carolina courts prefer an in-kind division of the marital estate, which means compensating you and your ex for your respective equitable shares by giving you assets and debts in your name wherever possible. If the house is in one party's name solely, the court will try to avoid the economic efficiency of selling it by leaving it with that party and giving the other more property somewhere else. This won't be an issue, of course, if the house is in both names.
  
  

Who Has the Kids

• Custody of the children plays a big role in who gets the former marital residence. North Carolina General Statutes Section 50-20(c)(4) specifically sets forth "the need of a parent with custody of a child or children to occupy or own the marital residence" as a distributional factor. Judges don't like to kick children out of their homes. If your ex has custody of your children or you expect that she will win it, make your peace with the fact that she'll probably get the house, too. Since 50-20(c) allows for an unequal distribution of the marital estate, also make your peace with the idea that she can get more than half.
  
  

Who Can Pay for the House

• North Carolina courts are unlikely to distribute a house to somebody who can't pay for it, and they're also unlikely to let one party assume a mortgage and make the other one walk around forever with a loan in his name for a house he's not living in. If neither one of you can qualify for a refinance loan, the court will probably order the residence sold. Keep in mind that since the house is one part of the standard of living to which each of you became accustomed during the marriage, your ex might be able to pay for it after a judge awards her alimony.