Rockville, MD family law attorney Stuart Knotts Skok explains the difference between marital and separate property in the context of a divorce.
More In This Category
Marital property is anything acquired during the marriage and not received as a gift from a third party other than your spouse, not received by inheritance, and not excluded by valid agreement like a pre or post nuptial agreement. So if it falls into any of those exceptions, then it is non-marital property. Otherwise, if not, if it’s acquired during the marriage, not by these other ways, then it is marital property regardless of how it’s titled, to one spouse or the other, or joint, and it’s subject to division under an equitable distribution standard in Maryland, which generally means equal. So equitable generally means equal unless the court thinks this there’s some reason not to divide it equally or the value of that property equally.