|
IS MARYLAND A "COMMUNITY" PROPERTY STATE?
(provided by Gimmel, Weiman, Ersek & Blomberg, P.A.)
No, Maryland is not a "community" property state. It is an "equitable distribution" state.
Unlike "community" property, "equitable" does not mean "equal." Equitable is defined as fair and just under the facts of the particular case. Therefore, the Court has discretion to evaluate each party's needs and entitlements.
When determining the equitable distribution of property upon divorce, the Court must perform 3 steps: 1) identify the marital property, 2) value the marital property, and 3) decide whether or not to grant a monetary award and/or divide the marital pension assets as an adjustment of the equities and rights of the parties.
Although equitable does not mean equal, often the equal division of assets in divorce is found to be the equitable result.
Information provided by:
Gimmel, Weiman, Ersek & Blomberg, P.A. located at
http://www.yourdivorcelawyers.com/
Go to: Maryland Articles and Resources
|
Please Read Our Disclaimer