Do I have any rights to this vehicle?

[krista819]

What is the name of your state (only U.S. law)? New Jersey

I am in the process of going through a divorce. During our marriage, my wife purchased a vehicle in which I co-signed for. Registration and Insurance is solely in my name. She has her own vehicle as well. Do I have any rights to taking over this loan and/or putting it in my name?

[CourtClerk]

Call me skeptical, but why is your screen name KRISTA and you have a wife?

[krista819]

haha yeah i guess that didnt look too good.

I actually posted 2 seperate questions: 1 is regarding my own situation and 1 is regarding my bestfriends.

Thanks for any info.

[LdiJ]

Originally Posted by krista819

What is the name of your state (only U.S. law)? New Jersey

I am in the process of going through a divorce. During our marriage, my wife purchased a vehicle in which I co-signed for. Registration and Insurance is solely in my name. She has her own vehicle as well. Do I have any rights to taking over this loan and/or putting it in my name?

Generally if you are married and have two cars, a judge is going to expect each one of you to walk away from the marriage with a car. Which one of you gets which car, depends on who can afford which car without dinging the credit of the other as well as other factors.

If you are both willing AND able to refinance the car into your name only, then that increases your odds of being awarded the car that you habitually have been driving. If you realistically cannot do that, or cannot realistically afford the car payments, and she can, then its more likely that she would be awarded that particular car.

[mistoffolees]

Originally Posted by krista819

What is the name of your state (only U.S. law)? New Jersey

I am in the process of going through a divorce. During our marriage, my wife purchased a vehicle in which I co-signed for. Registration and Insurance is solely in my name. She has her own vehicle as well. Do I have any rights to taking over this loan and/or putting it in my name?

If she has another vehicle, you can ask the judge for this vehicle. Of course, if you both ask for the same vehicle, one of you will lose (but since you're name is on the loan for this one and not the other, chance are that you'd get this vehicle). If you get it, you would then have to take over the loan payments. If there is any equity, it will have to be considered are part of the property division.