Single Ownership

• When divorcing in Maryland, business or residential property acquired before the marriage usually remains with the spouse who purchased or inherited it. However, assets derived from the property might be considered jointly owned if they increased in value during the marriage.
  
  

Joint Ownership

• Maryland operates under the principal of equitable distribution. This means that marital property, including that used for business, that is acquired during the marriage is divided equally in the event of a divorce. This does not mean that property is divided straight down the middle in the geographic sense. Instead, each partner is considered a joint-owner after the divorce is finalized.
  
  

Considerations

• If you own a business or business property and you are contemplating getting married in Maryland, consider a prenuptial agreement. The agreement can specify who would get the business or property in case of divorce, and what percentage each party would receive.
  
  If you are already married and are concerned with the future of your business in case of a separation, ante-nuptial agreements, signed after marriage, are a viable option as well.