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 Florida, as in many states, cars are considered a significant asset and can become a point of contention during a divorce. Florida follows the principles of equitable distribution, which means that any vehicles acquired during the marriage are likely to be considered marital property and subject to division between the spouses. The division is not necessarily equal but is based on what is fair and equitable, considering factors such as the duration of the marriage, the economic circumstances of each spouse, and contributions to the marriage, among others. If a couple cannot agree on how to divide their vehicles, the court will decide for them. This decision will include who gets ownership of each car and who is responsible for any associated debts, such as car loans and insurance payments. The court's goal is to reach a fair distribution of all marital assets, including cars, based on the specifics of the case.