Purchased vehicle prior to marriage, pd. off during marriage

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If you had a car prior to marriage is it marital or non martial if it was pd off during the course of the marriage?

Attorney Answers

2
Lance Stalnaker ·
If the purchasing party did not add the name of the other spouse to the car's title, then the car would be non-marital property even though the debt associated with the car was satisfied during the marriage. However, the non-purchasing spouse probably will be entitled to an amount equal to half of the principal amount paid during the marriage if the payments were made with marital funds such as the earnings of one or both of the spouses. LANCE K. STALNAKER, Attorney at Law
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Joshua Sheridan ·
The asset itself will probably be considered non-marital property of the purchasing spouse. However, the non-purchasing spouse could have a claim for half of the principle paid down during the marriage, if paid with income derived from marital effort.
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