GENERAL ASSEMBLY OF NORTH CAROLINA

1983 SESSION

 

 

CHAPTER 640

HOUSE BILL 413

 

AN ACT TO MAKE AMENDMENTS TO THE EQUITABLE DISTRIBUTION ACT.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 50-20(b)(1) is rewritten to read as follows:

"(1)      'Marital property' means all real and personal property acquired by either spouse or both spouses during the course of the marriage and before the date of the separation of the parties, and presently owned, except property determined to be separate property in accordance with subdivision (2) of this section."

Sec. 2.  The third sentence of G.S. 50-20(b)(2) is rewritten as follows:

"Property acquired in exchange for separate property shall remain separate property regardless of whether the title is in the name of the husband or wife or both and shall not be considered to be marital property unless a contrary intention is expressly stated in the conveyance."

Sec. 3.  This act shall become effective on August 1, 1983, and includes those actions pending in the District Court Division on the effective date thereof.

In the General Assembly read three times and ratified, this the 29th day of June, 1983.