Addressing Property Division When You Have Multiple Properties
When a couple divorces, dividing assets acquired during the marriage can be challenging, especially if the couple owns multiple properties together.
At The McKeon Law Firm, we understand that divorce is never easy. Our Maryland divorce attorneys have extensive experience handling even the most complicated divorce cases, and we’ll be ready to assist you if you have multiple properties and are unsure of how they could or should be divided.
To speak with a knowledgeable member of our team about your situation, contact our office for a personal and confidential consultation.
Understanding the “Equitable Distribution” in Maryland
Different states have different rules on the distribution of property between spouses. Maryland is an equitable distribution state, which means that the courts do not have to divide property equally between divorcing spouses. Instead, the court will divide marital property in a way that it deems fair.
What Counts as Marital Property
Before the process of dividing property between spouses begins, the court must decide what counts as marital property. Marital property is generally considered an asset that belongs to both spouses and was acquired during the marriage. Marital property can include real estate, properties, cars, and other assets.
While this definition seems straightforward, things can get complicated in practice. Property acquired before marriage is typically not considered marital property, therefore it is not subject to division during a divorce. However, a house bought before marriage by one spouse, which is then paid for using marital funds, could be considered marital property. Also, if a spouse acquires property during the marriage, but the property was a gift or inheritance from a third party, that may not always be considered marital property.
Even if a spouse has the title to property only in their name, it may still be considered marital property by the courts if it was acquired during the marriage. If tenants live on property or properties owned by the spouses, those properties are also considered marital. While the courts cannot transfer the title of certain properties to the other spouse, they can order the sale of the property and divide the proceeds between partners.
How a Divorce Attorney Can Help
During a divorce, the waters can get muddy rather quickly. It is not always easy to determine which property should be considered marital property, and which assets are subject to equitable distribution. However, having a skilled and resourceful family law attorney on your side can make a difference.
At The McKeon Law Firm, we know how hard you have worked to reach your property ownership dreams. We also understand that dividing these properties can be emotional and painful. We use our skills in family law to help you achieve the most positive outcome possible for your particular situation.
Contact McKeon Law Firm
If divorce is on the horizon, contact the Maryland divorce lawyers at The McKeon Law Firm. We want to help alleviate your fears about multiple property divisions and help you understand your rights. Reach out to us today for a confidential consultation with a compassionate and experienced divorce lawyer today.
