If my husband and I are going to get a divorce and he is looking at getting another car that will be put in his name, does that add into my debt?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my husband and I are going to get a divorce and he is looking at getting another car that will be put in his name, does that add into my debt?
No papers have been filed yet. Will I have to pay for that in the divorce?
Asked on May 24, 2012 under Family Law, South Dakota
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If the car is purchased during the marriage then it is considered a marital asset (and a marital debt at the same time if there is a loan attached to it). The asset and debt can be allocated to him during the divorce if that is what you agree to but it does indeed impact the settlement. Your state is an "equitable distribution" state. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.