Would it not be easier for you to get a car in your name and let her keep the car that is in her name?
I only suggest this because I have seen how ugly divorces can be and the scenario that you are describing puts you both in constant contact and finacially responsible for each other’s credit. I would think that it would be easier on you both to sever as many finacial ties as possible…just my opinion though.
not really because the vehicle that she drives will pull my boat and she doesn’t want to keep anything that size vehicle. Me taking the one she is currently driving was her suggestion.
The other option would be to buy it from her for the payoff and then just get something else in her name.
I understand that issue completely but I don’t think the title can be changed over unless it’s owned. It would have to be refinanced into your name as if you are buying it. The option you have is to pay off the car and have her sign the title over. I do not suggest getting a car in your name since you know that this is not going to be your vehicle.
The separation agreement would cover if the payments are not made and/or the car is repo’d. I am not suggesting that either of you would do this to the other but I do know that if your credit is on the line, you should think twice. If she decides in 6 months to not follow the agreement, you would not only be finacially responsible for the car in your name but you would also have to shell out the expense of taking her to court for breech of contract…
Generally, you are going to want to transfer the titles to the vehicles so they are in the names of the party who is driving and maintaining the vehicle.
Helena M. Nevicosi
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My wife and I are separating, I have a company car that I will no longer have due to the company policy not the separation. The vehicle we own is in her name but I will drive that vehicle and be responsible for all expenses, payment, gas, repairs etc. We are going to get her a vehicle when I have to turn in my company vehicle next month.
Should we, can we change the title to my name? Does our separation agreement that states that I am responsible for all cost cover her? Our thought was that this next vehicle would be in my name and she would be responsible also would be covered in our separation agreement. Can that work?
Thanks