Wisconsin is a community property state, where everything a married couple owns together is subject to a 50\50 split. However, some property such as a shared vehicle cannot simply be cut in half.
One option of dividing marital property such as a vehicle is to sell the vehicle and spit the proceeds assuming that there is positive equity in the vehicle to be divvied up.
Another option if you want to keep the vehicle but do not have the funds available to buy out your spouse’s share is to waive your rights to similarly valued asset in exchange for the vehicle.
Contact a Wisconsin Marital Property Division Lawyer for Help
It is important to work with an experienced marital property division lawyer to pursue the most favorable outcome for your particular situation when dividing assets, such as the car and debt in a divorce. Call (414) 210-3135 or send an email for a free, half-hour initial consultation with experienced Milwaukee and Waukesha divorce attorney.