Gray Divorce, Inherited and Premarital Homes: 10 Questions

It shortens your recovery time. A person at 55 or 60 has fewer working years to rebuild after a bad house decision. Run the cost of owning the house on one income, and run the net from a sale. Compare both before you choose. Then ask your attorney, your CPA, and your lender what each option means for you.

A gray divorce is a divorce in which one or both spouses are 50 or older. Bowling Green State University's National Center for Family and Marriage Research reports: "Whereas only 8% of all persons divorcing in 1990 were aged 50 or older, today the share is nearly 40%." Source: Family Profile No. 12, 2024.

Age is one factor. Maryland Family Law Article section 8-205(b) lists the age of each spouse and the physical and mental condition of each spouse among the factors the court considers. The court divides marital property equitably. The statute contains no 50/50 rule. Your attorney explains how those factors apply to your case.

Possibly. It depends on your agreement or the court's order, on who owns the home, and on the community's written rules. Ask the community for its rules in writing before you decide. Ask your attorney what your agreement or a court order means for your right to stay. If keeping the home does not work, here is how a divorce sale runs.

Section 8-201 excludes property acquired before the marriage from marital property. Your closing statement shows the purchase date. If joint income later paid the mortgage or paid for renovations, ask your attorney how that affects your claim. Gather your deed, mortgage statements, and bank records now.

Section 8-201 excludes property acquired by inheritance, and property directly traceable to an inheritance. Keep the probate papers, the deed, and records that show where any inherited money went. Your attorney confirms how Maryland applies the statute to your facts.

Section 8-201 excludes property acquired by gift from a third party, and property directly traceable to it. Keep the gift letter, the transfer record, and the closing statement that shows where the money went. If the gift went to both of you, ask your attorney how the statute applies.

Section 8-201 does not say how renovation payments affect a home's status. Keep invoices and bank statements that show which account paid for each project. Inherited money is traceable only if the records show it. Bring the records to your attorney and ask how the payments affect your claim.

Ask your attorney. Section 8-201 excludes property acquired before the marriage and property directly traceable to an excluded source. It does not describe how joint mortgage payments affect a premarital home. Bring your mortgage statements and bank records that show which account paid each month.

Section 8-201 excludes property excluded by valid agreement. Find your written agreement first. Give a copy to your attorney before you list the home. Whether the agreement is valid is a legal question for your attorney, not for a REALTOR®.