What Are the Procedures for a Trustee Divorce Sale in Maryland?

By Jennifer Williams

Property owned jointly by Maryland spouses is subject to equitable distribution in divorce. If spouses cannot reach a mutually agreed-upon property settlement agreement, the court may order the jointly owned property sold and proceeds divided. Often the court appoints a trustee as an impartial third party to oversee the sale.

Step 1

Negotiate with your spouse to arrive at a mutually agreed-upon property settlement agreement. This might involve one spouse buying the other out of assets, such as the marital home. If you cannot reach an agreement, identify the jointly owned property that must be divided between you.

Step 2

Petition the circuit court in which your divorce is proceeding for an order directing the jointly owned property to be sold. Ask the court to order the proceeds divided equally between you and your spouse and appoint a trustee to oversee the sale. You also have the option of asking the court to award you a greater share of the property, based on the individual circumstances of your case. Alternatively, you may ask the court to allocate the proceeds along with all other property in the final divorce decree.

Divorce is never easy, but we can help. Learn More

Step 3

Obtain a blank trust document from the Maryland Court of Appeals website or an online legal document provider. Fill in the blanks with the requested information to create a trust. You can also hire a lawyer to help you complete the document. The name of the court-appointed trustee, your names and a list of property to be transferred into the trust are generally required. Transfer property to the trust by deeding real property into the trustee's name and retitling any automobiles into the trustee's name.

Step 4

Wait for the trustee to sell the trust property. Compensate the trustee with a percentage of the proceeds from the trustee sale. Divide the remaining proceeds equally between you and your spouse.

Divorce is never easy, but we can help. Learn More
Texas Deed of Trust Laws


Related articles

How to Delete a Trustee From a Trust in California

A trust is a legal device that allows someone to place assets under the control of a trustee for distribution to beneficiaries. It is often used to avoid probate upon the death of the person who funded the trust, known as the settlor. If the trust is revocable, the settlor may simply revoke or amend the trust to replace the trustee. Replacing the trustee becomes more difficult, however, if the trust is irrevocable. Under certain circumstances, however, California law allows the replacement of the trustee of an irrevocable trust.

How to Transfer a Deed in a Living Trust

A living trust is an arrangement in which you place assets under the care of a trustee for eventual distribution to beneficiaries. One of the main advantages of a living trust is that trust assets don't go have to go through probate after you die -- instead they can be distributed to beneficiaries at any time before or after you die. A living trust can hold real estate, and the trustee's name will appear on the deed. The trustee may transfer the property represented by a deed to a trust beneficiary or even to a third party, if the terms of the trust authorize him to do so.

Removing Real Estate From a Revocable Trust

Revocable trusts are often implemented to avoid probate. A trust's maker, or grantor, retains the power to fully revoke or amend a revocable trust. A trust is governed by its terms and adding or removing real estate from a trust is a power that is usually specifically listed. If a trust lacks this provision, an amendment may be legally required before real estate can be added or removed. Trust requirements may vary, depending on state law.

Get Divorced Online

Related articles

How to Fill Out the Deed of a Trust to Secure Assumption

A deed of trust to secure assumption is not a property ownership document. Some states, such as Texas and California, ...

How to Transfer a Living Trust to an Individual

Transferring a trust to an individual can mean one of two things. To execute a trust, its property must be transferred ...

Title Vs. Deed of Trust

The words "title" and "deed of trust" are often used in real estate. If you're buying a home, both these are used -- ...

How to Obtain a Copy of a Living Trust in California

A living trust is a means of transferring property to an individual or group of people. It is created by a person ...

Browse by category
Ready to Begin? GET STARTED