Is a car a matrimonial asset?

A car is typically considered a matrimonial asset if it was purchased during the marriage, regardless of whose name the vehicle is registered to.

When determining how to handle a car in a divorce, factors such as the car’s value, any outstanding loans or finance commitments, and each spouse’s future needs will be considered.

A car might not be considered a matrimonial asset in the following situations:

If it was owned by one spouse before the marriage and kept separate from marital finances.

If it was inherited or gifted to one spouse specifically during the marriage.

If it was purchased after separation.