Wednesday, June 25, 2014

My husband and I just sold our car and he used the money to buy a camper. Is this camper considered HIS property if we get divorced?

The short answer is No. 

North Carolina follows the "Source of Funds Rule" which allows the court to trace back the money used to purchase the property to determine who owns it. The court will then trace back the money used to buy the camper and determine that "marital funds" from the sale of the car were used. Because marital funds were used to purchase this property, it becomes marital property and you both have ownership rights to it should you get divorced. 

If you have more questions, please contact us at Kisala Watkins Law Group, PLLC.(919)321-6569

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