Bhashya
मैत्रेयीति होवाच याज्ञवल्क्यः— मैत्रेयीं स्वभार्यामा-मन्त्रितवान् याज्ञवल्क्यो नाम ऋषिः ; उद्यास्यन् ऊर्ध्वंयास्यन् पारिव्राज्याख्यमाश्रमान्तरम् वै ; ‘अरे’ इति संबो-धनम् ; अहम्, अस्मात् गार्हस्थ्यात्, स्थानात् आश्रमात्,ऊर्ध्वं गन्तुमिच्छन् अस्मि भवामि ; अतः हन्त अनुमतिंप्रार्थयामि ते तव ; किंचान्यत्— ते तव अनया द्विती-यया भार्यया कात्यायन्या अन्त विच्छेदं करवाणि ; पति-द्वारेण युवयोर्मया संबध्यमानयोर्यः संबन्ध आसीत्, तस्यसंबन्धस्य विच्छेदं करवाणि द्रव्यविभागं कृत्वा ; वित्तेनसंविभज्य युवां गमिष्यामि ॥
In plain words
"Maitreyī!" — Yājñavalkya was calling to his own wife. He was about to move on, up into a new order of life, the wandering renunciate's. "O" is simply how he calls to her. "I want," he says, "to leave this householder's stage behind and go on." So — "come, I'm asking your leave." And one more thing: with your co-wife Kātyāyanī, let me close things out. The bond that has held the two of you together through me as husband — let me end that bond, by dividing the property. Once I've shared out the wealth between you, I'll go.
Close to the Sanskrit
"Maitreyī!" — thus said Yājñavalkya: the sage named Yājñavalkya addressed his own wife Maitreyī. "About to go forth" — about to go upward, to a different order of life called wandering renunciation, indeed. "O" is a form of address. "I" — I am wishing, am becoming, to go upward from this state, this stage of householdership. Therefore, "come" — I request your permission. And moreover — with this, your second wife, Kātyāyanī, let me make an end — a division. The relationship that existed between you two, connected through me as husband, that relationship's severance let me bring about, having made a division of property; having apportioned it by wealth, I will go, [leaving] you two [settled].