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Automobiles

titles and loans in divorce

Cars are an important asset, and are often the subject of dispute in a divorce—whether the couple owns or leases one car or multiple cars. Because cars are property and often purchased or leased with marital assets (funds), they are subject to the court’s decisions on how to divide the property. If the parties to a divorce are not able to agree on the transfer of ownership (title) and responsibility for payment of any car loans and insurance, the judge or jury may make these decisions for the parties.

In Arkansas, as in many states, cars are considered part of the marital property in a divorce and are subject to division between the spouses. Arkansas follows the principle of equitable distribution, which means that the court will divide marital property in a way that is fair, but not necessarily equal. If a couple cannot agree on how to divide their assets, including cars, the court will make a determination based on several factors, such as the length of the marriage, the financial situation of each spouse, and contributions to the marriage. The court will decide who gets ownership of the car or cars and will also address the responsibility for any outstanding loans and insurance payments. It's important to note that the division of property can be complex, and an attorney can provide guidance specific to the circumstances of the divorce.

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Automobiles

titles and loans in divorce

Individual & Family Legal Plan

Articles

Arkansas State Code

Automobiles

titles and loans in divorce

Arkansas State Code

Articles