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?
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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 11 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.
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