QUESTION
How can I make sure a vehicle stays mine after divroce?
Asked on Sep 28th, 2013 on Divorce - Florida
More details to this question:
I have just decided I want a divorce. But I am about to be bought a truck as a gift from my parents for my new job. How can i assure it stays my vehicle after divroce? My partner has their own vehicle in their name from before the marriage.
2 ANSWERS
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If your parents are buying the vehicle, and you have it titled in your name only , it would not be a marital asset it would be your separate property. Only if you put marital funds (money) toward the purchase or trade in a marital vehicle, would this new vehicle be marital subject to equitable distribution. The theory is that a gift comes from an outside source and did not involve use of marital funds to purchase it. As long as you dont put your spouses name on it (called comingling) the it remains your separate property.
Answered on Sep 29th, 2013 at 1:41 PM
Usually property acquired during the marriage becomes marital property. One of the few exceptions, however, are gifts acquired from a third party during the marriage. In this case, just make sure that your parents keep the records from the purchase showing that their funds were used for the purchase, and make sure that the vehicle is in your name alone. Also, if you are going to have make payments on the vehicle, I'd suggest that your parents make the payments at least until the divorce is final so there is no issues that marital funds were commingled.
Enjoy the ride.
Cindy S. Vova
Law Office of Cindy S. Vova, P.A.
8551 West Sunrise Blvd., Suite 301
Plantation, FL 33322
954-316-3496
info@vovalaw.com
Answered on Sep 28th, 2013 at 3:27 PM