Vehicles and Household Goods
in Oregon Divorce Mediation:
Mediator Matthew M. House, J.D.
The division of vehicles and household goods is usually fairly straightforward in Oregon divorce mediation. However, there are strategies to keep in mind to streamline the process, ensure fair valuation, and ensure that the transfer has no complications.
In an Oregon divorce, household goods and vehicles, like almost all other divorce transfers, can be transferred without any tax consequences to either party.
For vehicles, you will need to provide the VIN and the information about the lender and outstanding balance of any loan secured by the vehicle. Each vehicle will be designated as the individual post-divorce property of one party or the other. Vehicles are specifically enumerated and documented.
The value of personal property and particularly vehicles can fluctuate (usually downward). Choosing a valuation date is important to establish the value of the vehicle or other property, as well as its associated loan balance, if any, as of that date.
Personal properly is usually not individually itemized unless there will be an interim period after the divorce before one party can take possession of particular items.
Vehicles and personal property are usually transferred before or shortly after the divorce. If both parties agree, one party can hold property for the other party for some period, and the transfer can take place at a mutually-acceptable date, documented in the Marital Settlement Agreement.
In an Oregon divorce, household goods and vehicles, like almost all other divorce transfers, can be transferred without any tax consequences to either party.
For vehicles, you will need to provide the VIN and the information about the lender and outstanding balance of any loan secured by the vehicle. Each vehicle will be designated as the individual post-divorce property of one party or the other. Vehicles are specifically enumerated and documented.
The value of personal property and particularly vehicles can fluctuate (usually downward). Choosing a valuation date is important to establish the value of the vehicle or other property, as well as its associated loan balance, if any, as of that date.
Personal properly is usually not individually itemized unless there will be an interim period after the divorce before one party can take possession of particular items.
Vehicles and personal property are usually transferred before or shortly after the divorce. If both parties agree, one party can hold property for the other party for some period, and the transfer can take place at a mutually-acceptable date, documented in the Marital Settlement Agreement.