Legal Question in Family Law in California
If my husband owns a car that is worth kelly blue book $28,000 and owes $12,000 on it and I own a car that is worth $15,000 and I owe $10,000 on it. How much would he owe me just for the cars when we divide them in our divorce?
Asked on 2/24/13, 11:20 pm
1 Answer from Attorneys
Assuming they are entirely community property and community debts and he takes his and you take yours, both the car and the debt, he would owe you half the equity in his minus half the equity in yours. So (28000-12000)/2-(15000-10000)/2= 5,500.
Answered on 2/25/13, 5:40 pm
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