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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41221
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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We have joint ownership in a truck that I use to earn my lving

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We have joint ownership in a truck that I use to earn my lving in Landscaping. I made the down payment, all payments, and paid all insurance. We are divorcing and the only issue of contention is that my wife wants her name off the title and loan.I cannot qualify for refinancing at this time. I have told her I will stay current but she is threatening to come get the truck, which she has never needed and owns a vechicle of her own. Her position is that by having her name on the loan affects her credit. How can I satisfy her without refinancing? We are going to court soon for the Dvorce.
Thank you for your question. Please permit me to assist you with your concerns.

I am genuinely sorry that she is being so unreasonable. If you canot refinance but maintain the payments it is hard for her to claim that you are somehow in violation. About the only way to satisfy her without refinancing is to sell the vehicle outright, because until the debt is paid, you are going to have this obligation hanging over both of your hands. I also realize that this is likely not possible. About the only other option is to give her a signed agreement stating that if you ever breach the terms or miss a payment, she has a right to sue you for her damages, essentially giving her assurances. If she agrees to that, and you agree to cover her losses, then that may be a fairly legitimate compromise that should be able to resolve this concern for her.

Hope that heps.
Customer: replied 3 years ago.


Is there anyway that the judge would consider equitable title/

Paul,

Thank you for your follow-up. I am not sure I follow. A judge cannot retitle the vehicle, nor can he order the lien to be removed from the title. Since title canot be modified until the debt is paid off, a judge can grant physical ownership to one party or the othr, but he cannot actually change the title since that would require the parties filing with the DMV, nd in thi case first paying off the lien against the property.

Good luck.

Customer: replied 3 years ago.


Then there is a possibility that the judge may grant physical ownership and not force a Sale as we will not get the loan amount for the truck, and both lose.

Paul,

That is correct that would be a loss to both. But other than ordering a sale, a judge cannot modify title. he can grant physical rights to one person over the other, but that is about it.

Good luck.

Customer: replied 3 years ago.

I confused you I am ok with title being same I am going to Divorce court wanting to know that I might be able to Physically keep truck with my wife remaining on title until I can refinance that the judge may not force sale but let me keep truck for work and continuing to keep up all costs of truck

Paul,

No problem on the confusion. What you describe happens fairly often with both vehicles and real estate. When title cannot be amended and the current lien cannot be removed, the judge grants physical rights to one and essentially demands that the other spouse deal with it until a refinancing is possible. This is most especially true if this is a commercial vehicle that you utilize for your work.

Good luck

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