Property & Asset Distribution in Maryland

Equitable Distribution

Property & Asset Distribution

Maryland divorce lawyers

MaryLand Penal § 8-202. Ownership of personal and real property

(a) Determination of ownership. –

(1) When the court grants an annulment or a limited or absolute divorce, the court may resolve any dispute between the parties with respect to the ownership of personal property.

(2) When the court grants an annulment or an absolute divorce, the court may resolve any dispute between the parties with respect to the ownership of real property.

(3) Except as provided in § 8-205 of this subtitle, the court may not transfer the ownership of personal or real property from 1 party to the other.

(b) Decree and order. — When the court determines the ownership of personal or real property, the court may:

(1) grant a decree that states what the ownership interest of each party is; and

(2) as to any property owned by both of the parties, order a partition or a sale instead of partition and a division of the proceeds.

MaryLand Penal § 8-203. Marital property — Determination

(a) Time of court action. — In a proceeding for an annulment or an absolute divorce, if there is a dispute as to whether certain property is marital property, the court shall determine which property is marital property:

(1) when the court grants an annulment or an absolute divorce;

(2) within 90 days after the court grants an annulment or divorce, if the court expressly reserves in the annulment or divorce decree the power to make the determination; or

(3) after the 90-day period if:

(i) the court expressly reserves in the annulment or divorce decree the power to make the determination;

(ii) during the 90-day period, the court extends the time for making the determination; and

(iii) the parties consent to the extension.

(b) Consideration of military pension. — In this subtitle, a military pension shall be considered in the same manner as any other pension or retirement benefit.

(c) Exclusion of family home and family use personal property. — Repealed.

MaryLand Penal § 8-204. Marital property — Valuation

(a) Determination by court. — Except as provided in subsection (b) of this section, the court shall determine the value of all marital property.

(b) Retirement benefits. –

(1) The court need not determine the value of a pension, retirement, profit sharing, or deferred compensation plan, unless a party has given notice in accordance with paragraph (2) of this subsection that the party objects to a distribution of retirement benefits on an “if, as, and when” basis.

(2) If a party objects to the distribution of retirement benefits on an “if, as, and when” basis and intends to present evidence of the value of the benefits, the party shall give written notice at least 60 days before the date the joint statement of the parties concerning marital and nonmarital property is required to be filed under the Maryland Rules. If notice is not given in accordance with this paragraph, any objection to a distribution on an “if, as, and when” basis shall be deemed to be waived unless good cause is shown.

MaryLand Penal § 8-205. Marital property — Award

(a) Grant of award. –

(1) Subject to the provisions of subsection (b) of this section, after the court determines which property is marital property, and the value of the marital property, the court may transfer ownership of an interest in property described in paragraph (2) of this subsection, grant a monetary award, or both, as an adjustment of the equities and rights of the parties concerning marital property, whether or not alimony is awarded.

(2) The court may transfer ownership of an interest in:

(i) a pension, retirement, profit sharing, or deferred compensation plan, from one party to either or both parties;

(ii) subject to the consent of any lienholders, family use personal property, from one or both parties to either or both parties; and

(iii) subject to the terms of any lien, real property jointly owned by the parties and used as the principal residence of the parties when they lived together, by:

1. ordering the transfer of ownership of the real property or any interest of one of the parties in the real property to the other party if the party to whom the real property is transferred obtains the release of the other party from any lien against the real property;

2. authorizing one party to purchase the interest of the other party in the real property, in accordance with the terms and conditions ordered by the court; or

3. both.

(b) Factors in determining amount and method of payment or terms of transfer. — The court shall determine the amount and the method of payment of a monetary award, or the terms of the transfer of the interest in property described in subsection (a)(2) of this section, or both, after considering each of the following factors:

(1) the contributions, monetary and nonmonetary, of each party to the well-being of the family;

(2) the value of all property interests of each party;

(3) the economic circumstances of each party at the time the award is to be made;

(4) the circumstances that contributed to the estrangement of the parties;

(5) the duration of the marriage;

(6) the age of each party;

(7) the physical and mental condition of each party;

(8) how and when specific marital property or interest in property described in subsection (a)(2) of this section, was acquired, including the effort expended by each party in accumulating the marital property or the interest in property described in subsection (a)(2) of this section, or both;

(9) the contribution by either party of property described in § 8-201(e)(3) of this subtitle to the acquisition of real property held by the parties as tenants by the entirety;

(10) any award of alimony and any award or other provision that the court has made with respect to family use personal property or the family home; and

(11) any other factor that the court considers necessary or appropriate to consider in order to arrive at a fair and equitable monetary award or transfer of an interest in property described in subsection (a)(2) of this section, or both.

(c) Award reduced to judgment. — The court may reduce to a judgment any monetary award made under this section, to the extent that any part of the award is due and owing.

MaryLand Penal § 8-206. Family home; family use personal property — Legislative policy

The court shall exercise its powers under §§ 8-207 through 8-213 of this subtitle:

(1) to enable any child of the family to continue to live in the environment and community that are familiar to the child; and

(2) to provide for the continued occupancy of the family home and possession and use of family use personal property by a party with custody of a child who has a need to live in that home.

MaryLand Penal § 8-207. Family home; family use personal property — Determination; order or decree; property not included

(a) Determination. — In a proceeding for an annulment or a limited or absolute divorce, the court may determine which property is the family home and family use personal property:

(1) before the court grants an annulment or a limited or absolute divorce; or

(2) when the court grants an annulment or a limited or absolute divorce.

(b) Modification. — A preliminary or pendente lite determination is subject to modification during the pendency of the proceeding.

(c) Certain property to be treated as marital property. — If the court determines that there is no need for an order or decree issued under this section regarding the family home or all or any part of family use personal property, the property shall be treated as marital property if it otherwise would have been treated as marital property.

MaryLand Penal § 8-208. Family home; family use personal property — Award of possession and use; standards; order or decree; allocation of financial responsibilities

(a) Award of possession and use. –

(1) When the court grants an annulment or a limited or absolute divorce, regardless of how the family home or family use personal property is titled, owned, or leased, the court may:

(i) decide that 1 of the parties shall have the sole possession and use of that property; or

(ii) divide the possession and use of the property between the parties.

(2) The court may exercise these powers pendente lite.

(b) Required considerations. — In awarding the possession and use of the family home and family use personal property, the court shall consider each of the following factors:

(1) the best interests of any child;

(2) the interest of each party in continuing:

(i) to use the family use personal property or any part of it, or to occupy or use the family home or any part of it as a dwelling place; or

(ii) to use the family use personal property or any part of it, or to occupy or use the family home or any part of it for the production of income; and

(3) any hardship imposed on the party whose interest in the family home or family use personal property is infringed on by an order issued under §§ 8-207 through 8-213 of this subtitle.

(c) Allocation of financial responsibilities. — The court may order or decree that either or both of the parties pay all or any part of:

(1) any mortgage payments or rent;

(2) any indebtedness that is related to the property;

(3) the cost of maintenance, insurance, assessments, and taxes; or

(4) any similar expenses in connection with the property.

(d) Effect of award of sole possession and use. — An order giving a party the sole possession and use of the family home under subsection (a) of this section does not affect the right of the other party to claim the family home as that party’s principal residence for tax purposes.

MaryLand Penal § 8-209. Family home; family use personal property — Power of court over order or decree

In a temporary or final order or decree, each provision that concerns the family home or family use personal property is subject, as the circumstances and justice may require, to:

(1) the terms and conditions that the court sets;

(2) the time limits that the court sets, subject to § 8-210 of this subtitle; and

(3) modification or dissolution by the court.

MaryLand Penal § 8-210. Family home; family use personal property — Termination of order or decree

(a) Time limitation. –

(1) In any order or decree, or any modification of an order or decree, a provision that concerns the family home or family use personal property shall terminate no later than 3 years after the date on which the court grants an annulment or a limited or absolute divorce.

(2) The 3-year limitation set out in paragraph (1) of this subsection applies to a limited divorce notwithstanding the subsequent granting of an absolute divorce.

(b) Remarriage of party with possession or use of property. — Subject to the provisions of subsection (a) of this section, in any order or decree, or any modification of an order or decree, a provision that concerns the family home or family use personal property shall terminate when the party with the possession or use of the property remarries.

(c) Treatment of property. — When a provision that concerns the family home or family use personal property terminates, the court shall treat the property as marital property if the property qualifies as marital property, and adjust the equities and rights of the parties concerning the property as set out in § 8-205 of this subtitle.

MaryLand Penal § 8-211. Family home; family use personal property — Not evidence of constructive desertion

An order, award, or decree under §§ 8-207 through 8-209 of this subtitle may not be considered as evidence of constructive desertion.