Property Disposition
Property Disposition
Maryland is an equitable distribution state, not a community property state. When a Maryland Court grants an absolute divorce or an annulment, it may make an equitable distribution of property. Equitable does not necessarily mean equal, and it only applies to marital property—that is, property, regardless of title, that was acquired during the marriage. Exceptions can include inheritance, gifts from third parties, or property excluded by agreement. Some ways in which a court can effectuate an equitable distribution include dividing pensions, retirement accounts, bank accounts, or ordering one party to pay funds to another.
Maryland is an equitable distribution state, not a community property state. When a Maryland Court grants an absolute divorce or an annulment, it may make an equitable distribution of property. Equitable does not necessarily mean equal, and it only applies to marital property—that is, property, regardless of title, that was acquired during the marriage. Exceptions can include inheritance, gifts from third parties, or property excluded by agreement. Some ways in which a court can effectuate an equitable distribution include dividing pensions, retirement accounts, bank accounts, or ordering one party to pay funds to another.