QUESTION
How do we determine vehicle ownership after divorce?
Asked on Oct 29th, 2014 on Divorce - Nevada
More details to this question:
My daughter is in the military. She and her husband both hold title to a vehicle but the car loan is in her name only. How does she proceed to get the car awarded where he has to sign the title over to her? She has an attorney but I'm not sure she's being advised very well on this topic. Her attorney says he can have the car since his name is on the title. Shouldn't she have a judge determine who can have the car? I think this would be the only contested item in their divorce. He can't refinance as his credit is shot and has a history or unemployment so he wouldn't qualify for a car loan. So if he takes the car she would be responsible to pay the loan and the insurance because he can't afford those either.
1 ANSWER
As a matter of theory, title indicates presumptive ownership. You do not indicate whether community (marital) funds purchased the vehicle, but that seems to be likely, so both parties do have ownership rights in the car. But yes, it is simply a "balance sheet" item - whatever the value is, less the outstanding loan obligation, and it makes sense to either liquidate it, or put it in the column of whichever party is actually able to make the future payments. The other party will be owed half the equity, whatever it is. And of course, if the parties do not agree, the court can and will decide those questions, and can order the car to belong to one party, or the other, even if someone refuses to sign the title documents.
Answered on Oct 30th, 2014 at 11:44 AM