This is a term used in divorce law when the judge wants to decide some of the divorce issues (like property division or child support) at that time, but save the legal divorce of the parties until a later date.
If a court wants to decide an issue at a later date, it can reserve jurisdiction over that issue. This gives the court the authority to return to that issue in the future.
Termination of the Marital Status
Termination of the marital status simply means the legal divorce of the parties. It does not refer to any of the other issues a court may decide during a divorce, such as property division, child support or alimony.
When a court issues an order reserving jurisdiction over the termination of the marital status, the parties are still legally married because the court is postponing the divorce until a later time. The court may decide some of the other divorce-related issues then, but it is postponing the actual divorce until a later date.