The following form is a Property Settlement and Joint Custody Agreement.
Maryland Annulment Property Settlement and Joint Custody Agreement
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FAQ
Under the Maryland Marital Property Act, the court can consider both the monetary and non-monetary contributions of each spouse to the marriage. Non-monetary contributions can include childcare, meal preparation, maintaining the home, etc.
Courts divide property under one of two schemes: equitable distribution or community property. Equitable distribution. Assets and earnings accumulated during marriage are divided equitably (fairly). In practice, often two-thirds of the assets go to the higher wage earner and one-third to the other spouse.
In Maryland, all assets and property acquired during a marriage are considered marital property regardless of how the property is titled. This can include real property, bank accounts, retirement and pensions, household furnishings, and vehicles.
If you divorce after ten years or more of marriage, either spouse can claim benefits based on the earnings of the other. These spousal benefits are generally half of the employee's benefits. In order for you to qualify, your former spouse must be at least 62 years of age.
Maryland is considered an ?equitable distribution? state. This means, Maryland's Marital Property Act doesn't require divorce judges to divide property right down the middle. Instead, they can distribute the parties' assets in a way that is fair under all the circumstances.
A marital separation agreement, also known as a property settlement agreement, is a written contract dividing your property, spelling out your rights, and settling problems such as alimony and custody.
A settlement agreement differs from a separation agreement as it sets the terms for the divorce, not the separation. A settlement agreement should address all central issues of the divorce. This can include things like division of marital assets and debts, child custody, and child support, as well as spousal support.
You must prove one of the following legal "grounds" (reasons) to have your marriage annulled in Maryland: one spouse coerced the other to get married (under duress) one spouse defrauded the other to convince him or her to get married. one spouse is mentally incapable of getting married.
