
Quoting
moon0969
My question involves a marriage in the state of: Illinois
I was divorced in June 2015. We shared ownership of a vehicle. The vehicle was granted to me, along with 100% of the remaining loan( all payments/insurance maintained and current-). Even though both the car and loan remain in both of our names. Since, my ex has been trying to trade a vehicle for another and said he has been unable to secure a loan, because this loan is outstanding(false because I just bought another new vehicle). He has insisted that I refinance in my name only or surrender this vehicle. I can't refinance because there is too much negative equity
My questions:
1. What are my rights in this decision?
2. Even though I have divorce paper work saying that I am financially 100% responsible, will he be responsible for any balance remaining on this vehicle, once surrendered?
3. What paperwork should I get from him if I relinquish the vehicle to him?
4. Once in he has accepted the vehicle into his possession, would he have to insure until he surrenders?