Is a car considered marital property?
Here in Florida, whether a car is considered part of the stuff that gets divided in a divorce (called “marital property”) depends on a few things. If the car was bought after the couple got married, it’s usually seen as marital property. This means it can be split up between the husband and wife in the divorce.
But, if one person already owned the car before getting married, it’s often seen as just their own property. This means it wouldn’t usually be split up in the divorce. However, there are exceptions. For example, if both people used money they made during the marriage to pay for the car or its expenses, then the car might be seen as marital property.
Also, if the car’s value went up during the marriage because of something either person did, like taking really good care of it or upgrading it, that increase in value might be shared in the divorce. So, in Florida, it really depends on when the car was bought, how it was paid for, and what happened to its value while the couple was married.
If you’re navigating the complexities of determining whether a car or other assets are considered marital property in your divorce, Shemtov Hillstrom can provide clear guidance. Call us at (954) 329-2222 to schedule a consultation with our trial attorneys and get the tailored advice you need for your specific situation.