What can I do if my ex-spouse gets a truck?

Your ex-spouse can apply for a new loan to pay the existing loan on the truck. Since the new loan does not have your name on the loan agreement, you are not responsible for the debt owed on the truck once the current loan is paid in full through the refinance.

What happens if my ex has the title to my car?

If you own the title, it’s your car. If you hold the loan, it’s the bank’s car, with the expectation that they will turn the title over to you when you finish paying off the loan. If your ex’s name is on the title and yours isn’t, or on the loan and yours isn’t, it’s her car, regardless of who paid for the license plates.

How does the ex-spouse sign over the title?

The ex-spouse should “sign over” title to the spouse awarded the vehicle, and then the spouse awarded the vehicle takes the title transfer to the Secretary of State to record it.

What happens if I cosign on my ex’s truck?

If you cosign on your ex’s truck, you are legally liable for your ex’s truck payments until your obligation to the lender releases the loan. When you cosign a truck loan or other vehicle loan, you agree to be responsible for the payments on the loan if the other person stops making payments for any reason.

Is it OK to own a truck during a divorce?

When you’re headed for divorce, car and truck ownership is a commonly overlooked issue, but it can cause a lot of grief. Are you concerned about what will happen to the vehicles during the divorce?

How can I get my car back from my Ex?

For an explanation of the difference between the ‘owner’ of a vehicle and the ‘registered keeper’ of a vehicle see link below: Civil dispute – in a civil dispute over ownership of a car, if you are the legal owner of the vehicle and your ex has it, you can either require its return and seek a court order to this effect or sue them for its cost.

What should I do if my spouse refuses to pay my truck loan?

Therefore, if the judge awards you a greater portion of the marital assets, you may want to pay the loan on the truck in full if your spouse refuses to take other steps to release you from liability for the truck loan.

What can I do if my ex-spouse fails to pay my truck loan?

As long as you remain on the loan agreement, the lender can pursue all legal collection actions, including filing a collection lawsuit against you if your ex-spouse fails to pay the truck payments. If the lender pursues you for the debt, you can take your ex-spouse back to court.

What happens to a truck loan after divorce?

A lender does not have any incentive to release your liability for the truck loan. If your ex fails to pay the truck payments after your divorce, the lender will look to you for those payments, regardless of who has possession of the truck.