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What Happens to My Car During a Divorce?

This blog will outline how a divorce will affect your vehicle and what factors you need to consider.

For many people, a car is one of their most valuable assets. This might be because of its monetary value, its utility in terms of work and general travel, or just a general passion for motor vehicles. Naturally, many people want to know how a divorce will affect their car. For tailored advice to let you know precisely what you can expect to happen to your car, give our experienced team a call on 0141 478 9090

Can I Keep my Car During a Divorce?

The first thing to consider is whether or not your vehicle will be regarded as matrimonial property, therefore making it eligible for distribution during a divorce. If your car was acquired during the marriage, it will be distributed regardless of whether it is owned by only one party.

If you came to own your car before getting married and still own it after separation, it is your personal property and won’t be considered for distribution.

Who Owns the Car?

Not everything can be split 50/50 in a divorce. When it comes to determining car ownership during the divorce process, there are a few factors to consider. The name on the DVLA V5 certificate is simply the registered keeper, not necessarily the owner. The owner can depend on the following:

·       Who signed the sales contract/who paid for the car?
·       Is there a credit agreement and in whose name?
·       Was the car a gift?
·       Is it a hire purchase and, therefore, owned by the contracting company?

If you are in any confusion about the ownership of your car, feel free to get in touch.

What if My Car is Matrimonial Property?

If your car is matrimonial property, it does not necessarily mean you will lose it in the divorce. Instead, its value can be taken into account in any agreement, with the difference being transferred to your partner either in a lump sum or some other form of equivalent financial agreement.

If keeping your car is a priority, then our solicitors will outline what options you have available to keep hold of it.

Get in Touch

Vehicles are just one asset that can be a cause of dispute in a divorce. To make sure you receive the best possible outcome given your individual circumstances, along with the vital peace of mind that this provides, get in touch with our experienced divorce lawyers today.

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