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Automobiles

titles and loans in divorce

Cars are an important asset, and are often the subject of dispute in a divorce—whether the couple owns or leases one car or multiple cars. Because cars are property and often purchased or leased with marital assets (funds), they are subject to the court’s decisions on how to divide the property. If the parties to a divorce are not able to agree on the transfer of ownership (title) and responsibility for payment of any car loans and insurance, the judge or jury may make these decisions for the parties.

In Ohio, as in many states, cars are considered part of the marital estate and are subject to division during a divorce. Ohio follows an equitable distribution approach, meaning that the court will divide marital property in a manner that it deems fair, but not necessarily equal. If a couple cannot agree on how to divide their vehicles, the court will make a determination based on factors such as the duration of the marriage, the assets and liabilities of the spouses, and each spouse's contributions to the acquisition of the marital assets. This includes deciding who will retain ownership and responsibility for any car loans and insurance. It's important to note that 'equitable' does not always mean a 50/50 split; it means what is fair under the circumstances. The court may order one party to transfer the title of a car to the other and may also address the responsibility for any outstanding loans or insurance payments as part of the divorce decree.

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Automobiles

titles and loans in divorce

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Automobiles

titles and loans in divorce

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