Divorce With Multiple Properties in Bethesda, MD

Divorce is never an easy process, but owning numerous and valuable assets can make your experience even more time-consuming, stressful, and confusing. If you are going through divorce with multiple properties in Bethesda, it is essential to retain the help of legal strategists who can help you according to your specific needs.

At Z Family Law, we understand that divorce is your time to rewrite your future, which is why we offer compassionate service and fine-tuned legal strategies that can help you defend the assets you value. We guide you through the process so you are always on the same page when it comes to steps like property valuation, understanding tax implications, and responsibilities for mortgages and debts.

If you are ready to get started, reach out to schedule a free case evaluation and learn more about how Z Family Law can advocate for you!

What You Need to Know About Divorce with Multiple Properties in Bethesda, MD

Divorces in Maryland follow the equitable distribution model, which means that your marital property will be divided according to what is determined (by the court) to be fair, rather than strictly equal. In other words, “equitably” doesn’t mean assets will necessarily be split 50/50.

Marital property and separate property are treated differently throughout the divorce. Property acquired during the marriage is considered marital property and is subject to division with the exception of certain types of assets such as gifts or inheritances. However, property acquired before the marriage is generally considered separate property unless it has been commingled with marital property. Speak with our lawyers in order to accurately understand which of your properties are considered marital properties and which are not.

Another essential step to understanding how your properties will be divided is professional appraisal. An appraiser will be able to determine the value of your properties so that they can be divided accurately and fairly. Without a professional assessment, it’s more likely that your properties could be subject to unfair division and you might receive less than you are owed.

Finally, an important aspect of the legal process is awareness of the implication of mortgages, debts, and taxes. If you are awarded certain properties, you might be responsible for paying them off or for other forms of financial upkeep, which is why it’s always important to seek legal advice in this realm.

Legal Options For Dividing Your Properties

If you are going through divorce with multiple properties in Bethesda, you have several potential legal avenues when it comes to dividing them. Your options might include:

Selling Properties: If you and your spouse agree to sell the properties, the two of you can split the proceeds. This option only works for couples who do not wish to keep the property.
Buyout: If one spouse wishes to keep a property and the other does not, the spouse has the option to buyout the share in order to retain the property.
Co-Ownership: On the other hand, if both spouses wish to keep the property, they can agree to maintain joint ownership. For properties that generate income, this option might be the best.

Trading Other Assets: If you want to retain a certain property, you can potentially trade an asset of equal value to buy out your spouse’s share.

Frequently Asked Questions

Do I have to go to court in order to get divorced?

No. If your divorce is uncontested, meaning you and your spouse are in alignment on the terms of your divorce, you can settle out of court without the involvement of a judge (though you will still have to briefly appear in court for a short hearing to finalize your settlement and obtain a judgment of absolute divorce). However, we highly recommend every divorcing couple review their marital settlement agreement with a family law attorney before signing it, just to make sure you know what you are agreeing to!

How can I prove fault in my divorce?

If you want to allege some fault that led to the breakdown of your marriage such as adultery, abandonment, abuse, mental health issues, or substance addiction, you should do all you can to document the incident(s) including saving any kind of relevant communications such as texts or emails. Speak with our lawyers about your options, and we will begin the process of making a case for your interests.

Is Maryland a community property state?

No, Maryland is an equitable distribution state, meaning that any property acquired during the marriage (marital property) will be divided equitably but necessarily equally in a divorce.

Divorce With Multiple Properties in Bethesda, MD