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 Wyoming, as in many states, cars are considered personal property and can become a point of contention during a divorce. Wyoming 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 decision based on a variety of factors, such as the length of the marriage, the value of the property, and each spouse's economic circumstances. The court will consider whether the cars were purchased or leased with marital funds when determining how to allocate them. The judge may order the transfer of title and the division of any debts associated with the cars, such as loans and insurance obligations. It's important to note that equitable distribution only applies to marital property, so any cars owned by one spouse prior to the marriage or received as a personal gift or inheritance may be considered separate property and not subject to division.