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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 Pennsylvania, as in many states, cars are considered marital property if they were purchased or leased during the marriage with marital funds. This means that in the event of a divorce, cars are subject to division along with other marital assets. Pennsylvania follows the principles of equitable distribution, which means that the court will divide marital property in a way that is fair, but not necessarily equal. If a divorcing couple cannot agree on how to divide their cars, the court will make a decision based on a variety of factors, including the length of the marriage, the needs of each party, and the economic circumstances of each spouse. The court will also consider who is using the vehicle and for what purpose, as well as who is responsible for the payment of any car loans and insurance. The judge's decision will ultimately determine the transfer of ownership (title) and the responsibility for any associated financial obligations.

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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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Pennsylvania State Code

Pennsylvania State Code

Automobiles

titles and loans in divorce

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