Can my wife get my truck in our divorce if she was a co-signer on the loan but I made all of the payments?
Question Details: My wife and I are starting the process of divorce. I have a truck that I purchased about 3 years ago with her as the co-signer because my credit wasn't that great. I have paid for it from my account; she hasn't paid anything. Now she is telling me when we get divorced that she wants the truck although I am paying for it just to get back at me. it is also registered and insured only in my name. If she does take it can I take the plates off and cancel the insurance so that I can return them to the DMV or do I have to give it to her the way it is with plates and all?
Assets purchased during a marriage are marital assets subject to distribution in a divorce. Whose name that the asset is in does not matter. Also, income earned during the marriage is marital income regardless of if it is co-mingled or kept in a separate account. Please seek legal help asap. You are going to have to negotiate this. Good luck.
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