As you know ... Maria filed for divorce in July, 2011, after finding out her hubby had been banging the maid and produced a son.
Sources familiar with Arnold's situation tell TMZ ... there's no prenup so under California law it's pretty simple -- 50/50. And our sources say there's no real issue over custody of their only minor child.
So why, you ask, has this divorce dragged on 2 1/2 years? We're told Arnold doesn't want to write a gargantuan check to Maria ... and we know how much -- and it hurts.
Sources tell us their net worth is around $400 million. We're told Arnold knows Maria is entitled to half -- but knowing it and watching around $200 million leave your bank account are 2 very different things.