Liability Of Registered Owners Of Vehicles During Divorce

Liability Of Registered Owners Of Vehicles During Divorce

Jon: So one of the things that I would always recommend to somebody is once you’ve decide who’s going to take what vehicle is that you’re going to re-register them in your own names.

And that helps take the other person off. That’s one thing to think about.

Tim: So on top of just insurance related, if you’re going because that is a part of Divorce of course, it’s dividing up your assets and debts.

And most of the time married couples keep vehicles on both names.

And it gets if that vehicle is going to be confirmed to one of you, so, when you do that what Jon is saying is to re-register your name alone.

Jon: Re-register your name alone. And the same thing if you have kids and they owned vehicles as well or they are in your registered vehicle on the kids and the child is maybe going with the other parent and you don’t want to hold accountable, the same situation.

You really, only, want to be held accountable for what you can control on the cars that you’re driving.

Tim: Now let me ask what might be a stupid question. If it’s still be in financed, okay?

And the loan is in both names and they’re both registered. Can they change it into one registered owner?

Jon: The loan names and the registered owner names are two separate things.

Tim: Right.

Jon: So you can re-register it as a solo person.

Tim: You can. Okay.

Jon: Without impacting the loan.

Tim: So like the house it’s the equal into quick claiming off.

Jon: Exactly!

Tim: But you’re still on the loan?

Jon: Right!

Tim: Okay. So the loan there’s no liability. It’s the registered owner.

Jon: It’s the registered owner that carries the liability.

Tim: That’s a small detail that makes the big difference.

Jon: It really can especially if something serious happens.

Tim: Right!

Jon: Nobody thinks about it until somebody starts to look and dig in and see another name.

And it’s not a good situation at that point for that person.