Marital Property Defined
-
"Marital
property" means the property,
however titled, acquired by 1 or
both parties during the marriage.
"Marital
property" includes any
interest in real property held by
the parties as tenants by the
entirety unless the real property is
excluded by valid agreement.
"marital
property" does not include
property:
(i) acquired before the marriage;
(ii) acquired by inheritance or
gift from a third party;
(iii) excluded by valid agreement;
or
(iv) directly traceable to any of
these sources.
To Simplify the Subject of Marital
Property
Think Of Marital Property as Value
Acquired During Marriage, No Matter How
Titled, and you Will Understand Marital
Property.
|
How the Process
Works
The court must
initially
characterize all
property owned
by the parties,
however titled,
as either
marital or
nonmarital.Once
characterized,
the value of the
marital property
must be
determined.Thereafter,
the value of the
nonmarital
property of each
spouse is
assigned to that
spouse and the
value of the
marital property
is equitably
distributed
between the
spouses. It is
the source of
funds that is of
paramount
importance in
characterizing
property as
marital or
nonmarital.
There are other
issues to
consider in this
area. For
example:
Dissipation
Commingling Of
Funds
-
Real
Property
-
Personal
Property
Pensions |
|
|
|
|
|
|
Are You Confused Yet?
Call My Office For A Free A Free Phone
Consultation
|
Anne Arundel
County: 7310 Ritchie Highway, Ste 910 Glen
Burnie, Maryland 21061 (410) 760-7339
Baltimore City
Office Meeting Location:
111 South Calvert Street, Ste 2700, Baltimore, Maryland
21202 (410) 685-7339
Prince George County:
6301 Ivy Lane
Suite 700, Greenbelt, Maryland 20770
(301) 474-7339
Howard County:
5044 Dorsey Hall Ste 205, Ellicott City, Maryland 21044
(410) 740-7339
Baltimore County:
10451 Mill Run Circle, Ste 400, Owings Mills, Maryland 21136
(410) 363-7339
|
|
