If a couple divorces for irreconcilable differences, and no prenuptual agreement has been made, how are assets split between the two parties? Does each keep what they came in with and split the rest based on monetary value or is there another way to go about it?
2007-05-24 04:18:39 · 7 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
Well, there's no such thing as irreconcilable differences under maryland law. If you are filing under voluntary separation, you'll have to make sure you haven't lived together in the same residence even for one night for one year.
Then, you must determine if you want a limited divorce or an absolute divorce (yes, there are two types under Maryland law).
If it's a voluntary separation, you'll have to divide up the property between you amicably. Otherwise, it's a fight in court to divide up the assets, which will cost you both more money and time.
Here's a site for Maryland law:
http://www.rapidocsmd.com/
I hope that helps
2007-05-24 04:42:29 · answer #1 · answered by Kallan 7 · 2⤊ 0⤋
1
2016-05-15 17:22:14 · answer #2 · answered by ? 3 · 0⤊ 0⤋
If the parties cannot agree on property division, the court will decide based on equitible distribution.
The parties can agree and sign a Marital Settlement Agreement which will stipulate how the marital property shall be divided.
usually the second option is best and should be used if its an agreed divorce. the court will not typically intervene if you are in agreement. you just file a marital settlement agreement with everything you want stipulated.
best of luck!
2007-05-24 04:27:48 · answer #3 · answered by chantel 3 · 1⤊ 0⤋
Generally you attempt to work out the terms of a property agreement and split up assets and bills. If you and your atty's are unable to arrive at a workable settlement, then it goes before a judge as part of the divorce process.
2007-05-24 04:22:21 · answer #4 · answered by wizjp 7 · 0⤊ 0⤋
the two events would be collectively and one after the different answerable for the debt. in spite of if a choose divvies up the debt between you 2. The lenders do no longer care. they desire their money and gets it from considered one of you and then the different will could sue in small claims.
2016-12-11 19:14:04 · answer #5 · answered by keeven 4 · 0⤊ 0⤋
Try talking to a maryland family lawyer for your answers.
2007-05-24 04:20:37 · answer #6 · answered by janicajayne 7 · 0⤊ 1⤋
apparently they dont.
2007-05-24 04:20:41 · answer #7 · answered by monkey lover 1 · 0⤊ 1⤋