Maryland Real Estate Authority |
| What Happens to Maryland Real Estate in a Divorce? Posted: 27 Aug 2010 02:00 AM PDT With high profile divorces often in the news, you may be wondering what happens to the real estate that a couple owns when they decide to dissolve their union. Division of property is not just a concern for the very wealthy; anyone who is divorcing and owns property needs to be certain that their rights are upheld. Maryland is an “equitable property state.” Under this designation, any property that the couple acquires while they are married must be distributed equally, unless a court rules that doing so would not be fair. Notice we used the word “acquire.” A couple may not purchase property while they are married, but property could land in their hands some other way, such as an inheritance. If it can be proven that the property acquired during the marriage really only belongs to one spouse, then that spouse may not have to share it. And we should add that division of property does not meant that the court will mandate that a couple draw lines to divide a house. It means that each person is given a portion of the property’s total value. So if that property is sold, then each spouse must get their fair share, as outlined by the court. Top Maryland real estate agent John Day cannot advise you on divorce proceedings, but he can help you sell your Maryland real estate. |
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Maryland Real Estate Authority Part 1
Maryland Real Estate Authority Part 1
Maryland Real Estate Authority Part 1
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