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Ch. 431 2006 LAWS OF MARYLAND
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(3) Except as provided in § 8-205 of this subtitle, the court may not
transfer the ownership of personal or real property from 1 party to the other.
(b) When the court determines the ownership of personal or real property, the
court may:
(1) grant a decree that states what the ownership interest of each party
is; and
(2) as to any property owned by both of the parties, order a partition or a
sale instead of partition and a division of the proceeds.
8-205.
(a) (1) Subject to the provisions of subsection (b) of this section, after the
court determines which property is marital property, and the value of the marital
property, the court may transfer ownership of an interest in property described in
paragraph (2) of this subsection, grant a monetary award, or both, as an adjustment
of the equities and rights of the parties concerning marital property, whether or not
alimony is awarded.
(2) The court may transfer ownership of an interest in:
(i) a pension, retirement, profit sharing, or deferred compensation
plan, from one party to either or both parties; [and]
(ii) subject to the consent of any lienholders, family use personal
property, from one or both parties to either or both parties; AND
(III) SUBJECT TO THE TERMS OF ANY LIEN, REAL PROPERTY
JOINTLY OWNED BY THE PARTIES AND USED AS THE PRINCIPAL RESIDENCE OF THE
PARTIES WHEN THEY LIVED TOGETHER BY:
1. ORDERING THE TRANSFER OF OWNERSHIP OF THE REAL
PROPERTY OR ANY INTEREST OF ONE OF THE PARTIES IN THE REAL PROPERTY TO
THE OTHER PARTY IF THE PARTY TO WHOM THE REAL PROPERTY IS TRANSFERRED
OBTAINS THE RELEASE OF THE OTHER PARTY FROM ANY LIEN AGAINST THE REAL
PROPERTY:
2. AUTHORIZING ONE PARTY TO PURCHASE THE INTEREST
OF THE OTHER PARTY IN THE REAL PROPERTY, SUBJECT TO IN ACCORDANCE WITH
THE TERMS AND CONDITIONS ORDERED BY THE COURT; OR
3. BOTH.
(b) The court shall determine the amount and the method of payment of a
monetary award, or the terms of the transfer of the interest in property described in
subsection (a)(2) of this section, or both, after considering each of the following
factors:
(1) the contributions, monetary and nonmonetary, of each party to the
well-being of the family;
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