In Maryland, it does not matter how property is titled. If the property was acquired during the marriage, and was not a gift from a third party, inherited, or excluded by a valid agreement, then it is marital property. Every paycheck that is earned during the marriage is likewise considered marital property. Therefore, if the item is purchased during the marriage, it is likely marital property.
If one party has more property in his or her name, then the court may grant the other party a monetary award in an attempt to divide the marital property in an equitable fashion. In order to grant a party a monetary award, the court has to go through a three step process. First, the Court considers which property is marital. The Court then values all marital property. Finally, the Court must decide whether to grant a monetary award to one spouse to make an equitable distribution of the marital property. In deciding whether to grant a monetary award, the Court considers the following main factors: