Equitable Distribution of vehicle.

[ok2006]

What is the name of your state (only U.S. law)? Hi i live in New York...which is an equitable distribution state. I have filed for divorce from my husband of 2 years...we have a 1 year old daughter together and she resides with me full time. We dont have any property to divide but our family car which was purchased during the marriage. He has taken the car from me claiming that it's his because its in his name and he put most of the money (not all) towards it when we purchased it. The rest of the money, which was about $5000 came from our jointly filed income tax return . I have our daughter full time and I have to take her to the babysitter and go to work everyday...he just uses the car to go to work alone and recreational use...he doesnt need the car as much as i do. I would like to know what are the odds that the judge would award me the car? Would the judge make us sell it and split the profit? Or would the judge just let my husband keep the car? THE CAR IS FULLY PAID FOR...WE BOUGHT IT IN FULL WITH CASH AT THE TIME OF SALE.

 

[Ohiogal]

Is the car FULLY paid for?

 

[nextwife]

What is the name of your state (only U.S. law)? Hi i live in New York...which is an equitable distribution state. I have filed for divorce from my husband of 2 years...we have a 1 year old daughter together and she resides with me full time. We dont have any property to divide but our family car which was purchased during the marriage. He has taken the car from me claiming that it's his because its in his name and he put most of the money (not all) towards it when we purchased it. The rest of the money, which was about $5000 came from our jointly filed income tax return . I have our daughter full time and I have to take her to the babysitter and go to work everyday...he just uses the car to go to work alone and recreational use...he doesnt need the car as much as i do. I would like to know what are the odds that the judge would award me the car? Would the judge make us sell it and split the profit? Or would the judge just let my husband keep the car?

How much is owed vs it's value? Why not work out an agreement to share any equity by having him buy you out, and just buy your own ca using your own credit (or just buy a used cheapie for cash, which is what I do?) Lots of moms buy their own cars.

IMHO - one party having possession of property in which the debt belongs to another is folly. It is far better in the long run if all mutual debt that can be is eliminated, and each party then acquires on their own. In my work I probably hear the words "But He/She was SUPPOSED to be paying for that, according to our divorce agreement . . . " many, many times a day.

 

[ok2006]

Yes the car is fully paid for...I just am afraid that the judge would just let him keep the car because its in his name.

 

[Ohiogal]

Yes the car is fully paid for...I just am afraid that the judge would just let him keep the car because its in his name.

Yep he will most likely get to keep it however how much is it worth?

 

[ok2006]

The car is worth about $10,000 - $11,000. We bought it because we were expecting...we bought it together but the title was put in his name. I have our daughter full time and i have to take cabs and trains and buses to get around with her while he drives the car to work. I hope the judge will see it in my favor and atleast award me half the value of the car.

 

[Kiawah]

Then if you are splitting things, he could keep the car and give you 5000 to 5500 in cash (half the total value of the vehicle), then you would have your fair share. Take the cash, go buy a car and if you need to take out an additional loan to buy a vehicle both the car and loan will be in your name.

....or....

You could have the car and give him the same amount in cash. He signs the title over to you, you give him the cash.

 

[mistoffolees]

Then if you are splitting things, he could keep the car and give you 5000 to 5500 in cash (half the total value of the vehicle), then you would have your fair share. Take the cash, go buy a car and if you need to take out an additional loan to buy a vehicle both the car and loan will be in your name.

....or....

You could have the car and give him the same amount in cash. He signs the title over to you, you give him the cash.

OR, you could find someone with a huge metal saw and have the car cut right down the middle. That should make both sides equally happy.