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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 Oklahoma, as in many states, cars are considered part of the marital estate and are subject to division during a divorce. Oklahoma is an equitable distribution state, which means that marital property is not necessarily divided equally, but rather in a way that is deemed fair and equitable by the court. If a couple cannot agree on how to divide their assets, including cars, the court will make a determination based on a variety of factors, such as the length of the marriage, contributions to the marital estate, and the economic circumstances of each party. The court will decide who gets ownership of the cars and will also address the responsibility for any associated debts, such as car loans, and ongoing expenses like insurance. 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

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

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Oklahoma State Code

Oklahoma State Code

Automobiles

titles and loans in divorce

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