downnout1
recently joined
Reged: 01/11/12
Posts: 1
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I have been seperated (not legally) since november 2010.the financial part of my divorce is still going on.I was divorced on august 19th 2011 and my girlfriend bought me a motorcycle at a dealership as a gift.we went and looked at it on august 9th 2011 and since we found out her credit was bad we got it in my name and put the insurance in my name but she is making the payments on it and paying the insurance on it.she did put money on it to hold it until she came back to put the down payment on it.the day we came back and she put the down payment on it and we took possesion of the motorcycle was august 20th 2011,a day after my divorce.somehow the ex found out about it and told her lawyer.since my girlfriend bought it with her money and gave it to me as an unconditional gift and no marital funds were used,is there anything they can do? anyone know what will happen? there have only been 4 mayments made on it.i didn't tell my lawyer about it since it is a gift and they are considered seperate property so I was told and figured it wouldn't matter and also being so close to ending this financial headache.I am in illinois by the way. thanks in advance!
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Renny
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Reged: 09/24/11
Posts: 479
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"we went and looked at it on august 9th 2010 and since we found out her credit was bad we got it in my name and put the insurance in my name but she is making the payments on it and paying the insurance on it.she did put money on it to hold it until she came back to put the down payment on it."
The loan was made to you but she is making the payments?
In general, all assets and liabilities must be disclosed. At a minimum you had an undisclosed asset (title to the bike) and I think you used marital credit for the purchase even though she repayed you. It isn't a gift in the legal sense.
I doubt anything will happen except more legal fees and general aggravation. Look for an attempt to get more money from you to settle.
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