IfI was giventhe car in my divorce and it still in my ex-husband’s name, can I just give it back to him and be done with it if I’m unable to refinance?

I was given the car as an asset in the divorce. It is in my ex-husband’s name. I was given the power of attorney to refinance the car if I chose to. However I have not been able to refinance due to no credit. Ex has threatened to take the car if I don’t within 10 days. I want to give it to him and be done with it. Any legal issues I need to address before doing so?

Asked on September 19, 2011 under Family Law, North Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

It is very wise of you to think about this before you actually do it.   Yes, you should consider having an attorney draw up some form of agreement as to the car and an acknowledgement as to his receipt of it. You are aware that it was part of your award and that turning it over to him means that your award is reduced by its value?  That is also something that you should discuss.  Now, from the way that you have phrased the question I need to clarify: is there a loan and is it in his name alone and you were supposed to pay him for it?  Whose name is on the title? If you give it to him you need to held harmless from liability because the avenue that you should take here is to request a modification of the divorce decree.  Good luck. 


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