What is Marital Property?

Davis Upton Palumbo, LLC House Exceeding Expectations

This week, Michael O’Shea explains marital property. Marital property often comes up in a context of divorce proceedings. Under Maryland law, marital property is defined as any property, however titled, that was acquired by one or both the spouses during the marriage. Marital property does not include any property that is directly traceable to the following: property obtained before the marriage, any inheritance or gift by a third-party, and anything that is excluded by valid agreement. Michael goes on to explain, Tenants by the Entirety, which is a term that is used in a deed for real property that is exclusively used during a marriage, and what it entails.
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