If I’m getting divorced and do not own my vehicle but my parents do, should I list it as my asset?
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If I’m getting divorced and do not own my vehicle but my parents do, should I list it as my asset?
It is my only vehicle and my only means of transportation. However my name is not on the title, my Dad’s is. He also pays for all the insurance, tags and maintenance.
Asked on September 26, 2012 under Family Law, Colorado
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If it's not your property, then you should not list it as an asset. However, to prevent any misunderstandings, you would be wise to list an "explanation" sheet to your asset list which notes that you do drive an vehicle, but that it is owned and paid for by a third party, namely, your parents.
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