This might vary from case to case – and even state by state – but it’s a common question. In a divorce, who keeps the car?
Assets division is a complicated process that can prolong the marriage termination case and make you waste more resources unless you prepare well. Before you set to Florida divorce forms pdf, you must agree with your partner on major marriage termination points and prepare for the process well.
Suppose your family has only one or two cars with different values, so it may bring you to arguments over vehicle ownership after the end of the marriage. Discover the common questions that may arise when deciding who gets the car in divorce and make the beneficial decision on your case.
The first point that will define vehicle ownership in the divorce process is whether your car is separate or marital property. If the car lawfully belongs to one spouse only, there are no hesitations about who will own it after the divorce.
But when the family vehicle is considered marital property, it will be distributed between spouses according to the relevant legislation and surrounding conditions. Depending on what state you live in you may be made to divide the car 50/50 or equitably based on the input of every spouse and other marriage termination details. Or if you are ready for an amicable divorce, you can agree on anyway to divide a car comfortably for both of you.
One of the key details taken into account when dealing with divorce cars is the time and way you acquired the vehicle. Suppose you bought the car before the marriage; it is your separate property and belongs to you only. But once you invest any marital costs in its maintenance, the car changes its status to marital. I
f you buy the car during the marriage; it will be treated as your marital property in most cases. But remember that gifts that are directed to you personally and inheritance cannot be defined as marital property.
In many states, the name on the car documents means the only car owner. But when the division of assets arrives, new details may be discovered, which will change the state of matters drastically.
The judge will consider whose name the car is registered to, but they will also mind other circumstances. For example, what funds were used to buy a car, how the vehicle was maintained, who may need it more after divorce, and a relevant decision will be made.
Suppose a husband buys a car and presents it to his wife with her name on the papers. But later, in the course of a divorce, he proves that he spent his separate funds on a purchase so that the husband has even more rights to the car.
This means that the name on the car papers doesn’t equal sole ownership of the vehicle. So when you wonder if your spouse can take your vehicle, the answer will be positive, and you’d better prepare for any outcomes.
What if you haven’t paid off the car loan before the divorce? Who should cover car insurance? Who will pay for repairs? All the car-related expenses will be assigned to one or both spouses depending on the local divorce laws and additional circumstances the judge will consider and regulate for every other situation differently.
For example, you may agree to pay off the debt together or leave it for the partner who gets the car. The insurance will go after the vehicle owner after the divorce, too. Meanwhile, the repairs are the responsibility of the partner who has done the damage.
You can’t just take the car and split it into two. As well as using the vehicle in turns will be far from comfortable. So, you’d better agree on the best comfortable way to divide it along with other assets. Otherwise, a divorce can last longer with multiple arguments over property division involved.
There are several ways you can agree to divide your family transport:
- sell it and share the profit
- exchange it for other property
- buy it out from your spouse or vice versa
- leave it to the partner who has main custody over the kids.
The ideas are numerous. The best way out is to analyze the situation and divide the property equitably so that you and your partner feel comfortable and pleased with the outcomes. Plus, it will be better if you can agree on your own. This will help you save time and money and better control the divorce situation.