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  1. #1
    Join Date
    Nov 2010
    Posts
    91

    Default Division of Property and Assets in Divorce

    My question involves a marriage in the state of:CA
    Is the 50/50 split of assets based on the dollar value that items are worth? If my soon to be ex receives a car that is paid for and the blue book value is $5000 more than the truck that I am getting will the $5000 be made up spliting other items.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Division of Property and Assets in Divorce

    If you settle your case, then the assets will be divided in accord with your agreement.

    If you litigate the case, you'll likely spend more than that $5,000 between you arguing over how it should be split by the judge.

    If a vehicle that is a marital asset is worth $5,000 more than the balance of the loan, then the $5,000 in equity is a marital asset that can be divided in divorce, whether through cash, the recipient of the vehicle's acceptance of responsibility for a different debt, exchange of other items of property, or whatever else you agree. If you're on the car loan and the other spouse will be getting the car, it makes sense whenever possible to either get the loan paid off or refinanced such that you're not responsible if your ex- later defaults.

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