» Marital Property in Maryland

How is a monetary award calculated?

The court must determine the following factors prior to entering a monetary award:

  • The monetary and non-monetary contributions of each party to the well-being of the family;
  • The value of all property interests of each party;
  • The economic circumstances of each party at the time the award is to be made;
  • The circumstances that contributed to the breakdown of the marriage;
  • The duration of the marriage;
  • The age of each party;
  • The physical and mental condition of each party;
  • How and when specific marital property was acquired and the effort expended by each party in accumulating the marital property;
  • The contribution by either party to the acquisition of real property held by the parties as tenants by the entirety;
  • 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
  • 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 marital property.

What is a monetary award?

A monetary award is an order from the court giving to one party a financial award of marital property in an absolute divorce. It is intended to compensate a spouse who holds title to less than an equitable portion of property.

What happens if my spouse has hidden or disposed of our marital property?

"Dissipation" is the term for one spouse using marital property for his or her own benefit for a purpose unrelated to the marriage, at a time where the marriage is undergoing an irreconcilable breakdown. If the court finds that the property was dissipated, it will value it and treat it as if it still exists and use it as part of the property division to the detriment of the spouse that used it.

What is considered non-marital or separate property?

Non-marital or separate property is any property that was acquired before the marriage; acquired by inheritance or gift from a third party; is excluded by valid agreement; or is directly traceable to any of the foregoing sources.

What is considered to be marital property in Maryland?

Marital property is all property, however titled, acquired by one or both parties during the marriage. Marital property includes any interest in real property held as tenants by the entireties unless that real property is excluded by valid agreement.