QUESTION
How can we get a divorce if the car loan is in my name?
Asked on Oct 13th, 2015 on Divorce - Illinois
More details to this question:
About a year or so ago I got a car loan for a family vehicle with my wife's cousin as the co-signer. The down payment was paid with inheritance money my wife had received from her deceased mother. Since then my wife (no established credit history) has primarily driven it and now that we are getting divorced she is enraged that I have taken it from her due to her name not being anywhere on the loan. What are the legal grounds for this situation and am I responsible for keeping the car loan in my name but her maintaining possession? I was under the impression that if we aren't together this could be considered a straw purchase? I have told her if she wanted to have my name removed and take it up with her cousin as the primary/sole then I am willing to do that but other than that I feel I have ran out of options besides paying for the car and driving it myself.
1 ANSWER
Divorce courts do not care whose name the property is titled in. You had no right to take the car if she was driving it, especially if you already had a car. She cannot get your name removed until the loan is paid off. A court may not require her to do so, as long as she makes the payments. If her cousin is the co-signor that is incentive for her to continue to make the payments.
Answered on Oct 14th, 2015 at 6:40 PM