The first step in a Maryland marital property dispute focuses on determining whether the assets are classified as marital or non-marital property. Maryland marital property may be divided, but non-marital property remains the exclusive property of the owner. In some cases, determining which assets should be classified as marital property is simple, however, if marital and non-marital property are mixed, Maryland marital property division can be difficult without a voluntary agreement. In these difficult cases, courts must examine several factors, including how the asset is used and the funding source used to purchase the property.
Maryland Marital Property
As a rule of thumb, assets obtained during the marriage and paid for using post-nuptial assets are classified as marital property. However, under limited circumstances asses acquired by one spouse during the marriage may be classified as non-marital property. For example, property received by one spouse as a gift, inheritance from a third party, or property excluded by a prenuptial agreement may be considered non-marital.
Maryland Non-Marital Property
Property obtained prior to the marriage is typically considered non-marital. In Maryland, non-marital property brought into the marriage will remain classified as non-marital property as long as it was not gifted or titled to the other spouse. Non-marital assets are not subject to debts incurred by the other spouse and the owner-spouse may dispose of his or her assets without the consent of their spouse.
Resolving Maryland Marital Property Disputes
If a couple is unable to settle matters related to dividing post-nuptial assets voluntarily, the court can assist in distributing property between the divorcing party’s prior to finalizing the divorce.
Under the Maryland Marital Property Statute, assets are divided equitably which does not necessarily mean the interests are divided in a 50/50 split, but is instead divided with the goal of achieving a fair distribution.
Contact and Experience Maryland Marital Property Division Attorney
When you are dealing with any matters related to assets acquired during a marriage – it is important for you to consult with an experienced Maryland Marital Property Dispute Attorney.
To learn more about how asset disputes are resolved during a Maryland divorce contact the Law Office of LaSheena M. Williams. We can help you understand your rights and learn more about Maryland marital asset division. Contact us by calling (301) 778 – 9950 or by completing an online request for a consultation.
Our firm passionately represents clients across Rockville, Bethesda, Gaithersburg, Silver Spring, Takoma Park, Chevy Chase, College Park, Cheverly, Greenbelt, Oxon Hill, Hyattsville, Upper Marlboro, Largo, Bowie and surrounding communities.