Legal Question in Real Estate Law in Maryland

Stock owned as joint tenants by divorced couple in MD

E purchased stock prior to marriage to B (in Maryland).

While married, E added B's name to the stock and they were joint tenants or owners.

E and B were later divorced, PRIOR to 1986. The stock remains in their names as joint tenants. This property was never mentioned or dealt with at time of divorce.

Question: Can E sell this stock now? OR can E sell a PARTIAL

number of shares without ex-wife B's knowledge or permission?

Question: Does FACT of their divorce change ownership to ''Tenants in Common''?


Asked on 4/23/04, 3:38 pm

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Stock owned as joint tenants by divorced couple in MD

Since the stock is jointly owned at this time, it depends on where the stock is held. If it's held in street name in a joint account that authorizes either party to sell the stock, the broker will probably act on the authority of either party. If E actually holds the certificates and both names are on them as joint tenants, E will have to get B's cooperation (endorsement) on the certificates in order to sell. From the wording of your question, I assume that's the case. E can't sell an "interest" in the shares or part of the stock without B's cooperation. Tenancy in common really doesn't apply in this situation.

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Answered on 4/23/04, 3:46 pm


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