Bump in the raod joint ownership on a car

[fatjay]

Heres the deal...getting ready to file but I have a joint owned car with my girlfriend...we are currenlty doing a refi on the car in her name only....should I wait for that to complete or just continue....my atty said we should wait just in case...this exact issue with her being a GF and not wife he has never encountered before...im only asking due to a pending court case and the timing is just getting to close for comfort...

Thanks
J-

[AngelinaCatHub]

You have a point in timing. However, how is the car Titled? In an "and" state or and "or" state. Big difference. If it is AND you and her own it together. If an OR you own it 100% OR she owns it 100%. Either without permission of the other can change the Title.

Now if she is going to re finance, depending on above, you just sold your portion. You may have to claim that as an asset. This is what you must tell and ask of your lawyer. It does mean a lot. Otherwise, depending on whatever your other problem is, could be construed as hiding of assets in bot or either of your cases.

Clarify for further. 'Hub

[fatjay]

The contract is an OR and we just bought it about a month ago before I realized that I was going to file and the only real reason we did the refi was that she qualified for a 4 point lower interest rate..so when I say the is no equity in the car I mean there in none at all....

[tcreegan]

Hi fatjay,

No equity = no asset

Your lawyer will figure out how to list it in the schedules, keep them updated on what you are doing, they might have used it for an expense somewhere....

Tom in Colo