Property division in Maryland divorce
If you want to attempt a do-it-yourself divorce in Maryland, you need to understand the states property laws when it comes to dividing your property.
Listed below are some of the states rules for dividing property:
Property that a party obtained before the marriage is not marital property unless that party gave the property to the other party as a gift.
unless that party gave the property to the other party as a gift. Property that any party received as a gift or inheritance by a third party during the marriage is not marital property unless that party gave the property to the other party as a gift.
unless that party gave the property to the other party as a gift. Any party who wants to claim any particular items as their own must show proof that the property is theirs alone.
Each party can dispose of property they own alone.
Property that is jointly owned cannot be sold without the others consent.
Any property obtained during the marriage is marital property, even if only one party paid for it. The exception is gifts or inheritances from a third party.
even if only one party paid for it. The exception is gifts or inheritances from a third party. Marital property includes personal property, cars, real estate, retirement assets and pensions, bank accounts, furniture and stocks.
When property is divided in your divorce in Maryland, fair market value must be considered. However, property valuations can be tricky, leading to unfair property divisions. You should consider hiring a knowledgeable Glen Burnie divorce attorney, who has the ability to recognize valuation issues that you may not notice in a do-it-yourself divorce in Maryland.
Without this legal guidance, you may find that your property rights have been violated without your knowledge, leaving you in less-than-desirable financial circumstances in the long run.
To learn more about the risks of a do-it-yourself divorce visit our article library.
Contacting an Glen Burnie Divorce Attorney
Dont put your legal rights at risk by opting for a do-it-yourself divorce in Maryland. The Glen Burnie family law attorneys at Jimeno Gray understand the nuances of divorce, child custody and alimony in Maryland. Our Glen Burnie divorce attorney team is ready to help you with your family law needs. Contact us todayfor consultation 410-590-9401.’