I have a division of marital property question concerning credit lines and vehicles listed in only one spouse’s name.
My wife and I purchased some furniture with a line of credit that is in her name although they were paid for with marital funds, and we refinanced a car in her that also was paid for with marital funds.
In marital property division, who has the right to this property?
I am unable to give you legal advice on divorce. I can give general divorce help for men, though, my knowledge is based on Nebraska and Iowa divorce laws where I am licensed to practice.
Although a line of credit or a vehicle may be in one spouse’s name, it does not mean that the person in whose name it is will actually retain possession of the items.
Marital funds were used to pay on the items so the asset and the related debt may be divisible. In other words, you could be awarded one or both of the couches, or she may have to pay you the equity if she is awarded the couches.
There is a wide array of options available in property division. If you have not already filed, you will want to speak to a men’s divorce attorney in order to protect your interests.
Remember, I am unable to provide you with anything more than divorce tips for men, so please consult with a divorce lawyer in your jurisdiction.