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How do you split a car during a divorce in California?
We bought a Honda CR-V during our marriage, but now that we're divorced, I'm assuming only one of us gets the car. We paid for the car with our joint bank account and it no longer has a lien.
Sophie Newman · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“California is a community property state, which means that assets like a car are divided equally during a divorce.
If the lien is paid off, then you’re both entitled to 50% of whatever the car’s value is. Whoever keeps the car physically will likely have to buy the other out either with cash or with a transfer of other property of the same value.
When you figure out who gets the car, remember that you will need to
re-title and re-register the car with the appropriate name
. If you haven’t already gotten your own individual insurance policies, now is a good time to do so. It can be stressful to shop for car insurance, especially on top of processing a divorce, but there are ways to make it easier! Try using the
Jerry
app to compare rates for free from the top 50 companies and get the best deals delivered to your phone in minutes.”View full answer
- Gregory R.
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