What is “Marital Property” in Maine?

Marital property in Maine means all property acquired by either spouse after the commencement of the marriage, regardless of whether title is held individually or jointly.

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Under Maine law, the following is not considered marital property: (1) property acquired by gift, bequest, devise or descent; (2) property acquired in exchange for property acquired prior to the marriage or in exchange for property acquired by gift, bequest, devise or descent; (3) property acquired by a spouse after a decree of legal separation; (4) property excluded by valid agreement of the parties; and (5) the increase in value of property acquired prior to the marriage, and the increase in value of a spouse’s non-marital property. Continue reading “What is “Marital Property” in Maine?”