marital property
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| Fri, 01-27-2006 - 1:26pm |
Hi,
I have been legally separated since October (when I filed the "pro se" divorce papers), and our court date is set for March. He recently wrecked the truck we purchased together and the insurance company totaled it out. The truck was in my name, the loan was in my name, and there was $3500.00 leftover from the insurance company after the loan was paid off and the title was transferred over to the insurance company. I signed off on the check so he could purchase another vehicle. He has purchased a new truck of considerable value. Is this truck considered marital property, even though it was purchased after a legal separation? Am I going to be responsible for half of that debt, or will the judge allow this new incurred debt to NOT be considered marital property? We have not hired attorneys, and would really prefer not to. I am working on our financial statement, and would like some guidance as to how to treat this new vehicle. I apologize in advance if this message is not appropriate for this board, but I have limited time to computer access, and this is the first message board on divorce in this ivillage community of which I have grown to count on for excellent input and advice.
thanks
Weimdog

Is the loan in both names? If the loan is in his name alone then there should be an affidavit stating that your debts are soley yours and vice versa.
Peace,
Di
***If you cannot define yourself, your circumstances will.***
One place that you can look to see what the status of that loan is on your credit report, which is smart to check out before the divorce is finalized anyway.
However, since he did acquire it while you are techically married, I would include it int he settlement that that he is responsible for that loan--of course, if it is in your name, too, and he defaults, then you're responsible to pay and go after him on your own in small claims court to get back damages to you.
Welcome to the board!
Karen ~ wildlucky4me
Karen ~ wildlucky4me ~