I'm getting a divorce and our cars are on both of our names. what can we do to put her car on just her mane and my car in just mine?
Question Details: Our Vehicles as well as our house is in both of our names. We have agreed in that I will keep the house but i need to put it on my name only. Same goes for the cars, she keeps hers and i will keep mine. What do we need to do to legaly have her car only on her name and my car on mine? Same for the house. Thank You.
This can be done, but it isn't always quite as simple as you might think. I'm not a Texas attorney, and the procedure can vary from one state to another; for reliable advice, based on the unique facts of your case and Texas law, you should talk to a lawyer in your area.
Typically, in this situation changing the title also requires a refinance, because both of your names would be on the mortgage, and the mortgage company doesn't care about your divorce, it isn't giving up it's rights against anyone until it gets paid. You'd have to qualify for that mortgage on your own, and you'd have to be able to get enough cash out to buy out her equity as well as pay off the existing mortgage. At the closing, you would both sign a deed from the two of you, to you alone.
The cars are easy, if they're free and clear, it's just trip to the motor vehicle agency; if they have liens on them from the car loans, it's a little more involved.