I have a vehicle titled in my name only, and we are in the separation agreement process. Am I legally allowed to sell my vehicle (which I have a loan for(my name only)) and only purchased it a few months ago? So I really don’t have any equity in the vehicle yet, but it would allow me to free up my cash flow.
I have another vehicle in my name that is paid off which my spouse if fighting me for even though she has a vehicle in her name which she claims in non-operable. Is it really non-operable if it only needs battery and windshield which I’m offering to pay for?
Thanks for your help
Marital property should not be sold, disposed of, etc. prior to the equitable distribution process being complete. However, if both parties consent, it is possible to sell the vehicle earlier, especially with a good reason such as freeing cash flow.
The other vehicle is likely “non-operable” if minimal repairs can be completed which would make it operable again.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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