As a skilled New Jersey Divorce Lawyer, clients often ask me about how to split up their vehicles. When you are trying to split cars in a divorce they will become equalized. You have your car and your spouse has their car. If your car is a 2014 BMW and the other spouse has a 1995 Honda Civic for that matter, you’re going to equalize their values. A Honda Civic 1995 may have no value whatsoever, because it’s paid for and also its value is not as high as a BMW 2014. If the BMW has $10 in value, which means you would be able to sell the car and make $10, you’re entitled to half of that. That’s generally what you’re going to look at with the cars. You’re going to keep yours and the other spouse will keep theirs, but you’re going to equalize their values.
Do you know how to split cars value during your divorce? Contact our experienced New Jersey Divorce Lawyer for assistance.
This educational blog was brought to you by Christopher Leon Garibian, an experienced New Jersey Divorce Lawyer.