Legal Question in Family Law in Maryland
Splitting assets in a divorce
If I have been married for 6 years and there are joint investment accounts and bank accounts, however, I am not named as an owner of the house we live in. It is titled and mortgage is in my wifes name. In a divorece is this asset considered an asset to be split?
Asked on 7/05/07, 10:32 am
1 Answer from Attorneys
Bill Wood
Law Office of William C. Wood, LLC
Re: Splitting assets in a divorce
In general, all property acquired during the marriage using marital funds is marital property subject to equitable division. If the house was purchased during the marriage, it is marital property. If the house was purchased prior to the marriage, a portion of the equity would be marital property.
Answered on 7/05/07, 11:13 am
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