If I buy a car in my name with a loan that is in mine and my mother’s names, will my impending divorce effect either the loan or the car?

If my wife old me she didn’t want a commitment and told me she is moving out. We have been separated for about 3 months (so we have another 9 months until we can file for divorce). I recently got pre-approved for an auto loan by my credit union. The credit union account is in my name with my mother as a joint owner as I have had this account since I was in high school, long before I met my wife. The loan pre-approval is solely in my name calculated by my sole income.

Asked on July 16, 2015 under Family Law, Maryland

Answers:

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

Answered 5 years ago | Contributor

I would suggest seeking legal help to enter in to a separation agreement stating that the marriage is ended and that from a date certain what is yours is yours and hers is hers.  Otherwise the car could be both of yours. 


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.