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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 Colorado, as in many states, cars are considered part of the marital estate and are subject to division during a divorce. Colorado follows the principle of equitable distribution, which means that the court will divide marital property, including cars, in a way that is fair but not necessarily equal. If a car was purchased or leased with marital funds during the marriage, it is likely to be considered marital property. If the divorcing couple cannot agree on how to divide their cars, the court will make the decision for them. This decision will take into account factors such as the value of the cars, the financial situation of each party, and any other relevant considerations. The court can order the transfer of the title of the car and allocate the responsibility for any car loans and insurance. It is important to note that an equitable division is based on the circumstances of the case, and the court has broad discretion in making such decisions.

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Automobiles

titles and loans in divorce

As a LegalFix Member You Will Be an Important Client of Local Law Firms

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Automobiles

titles and loans in divorce