[Rich]

I know, it's a weird sounding topic subject. Anyway, I am thinking about leasing the IS in a couple of months and was wondering if any of you out there knew anything about what would happen were I to get divorced mid-lease term. Would my soon-to-be ex-wife, be entitled to anything? Could they force me to give the car back and give her half the lease payments or some such thing? I recall some forum members being lawyers (or in law school). I'd be more than happy to take this discussion off-line if anyone chooses.

Thanks
Rich
[email protected]

 

[Lost_soul]

While family law is not exactly my area of practice, I don't think they can force you to break the lease. The worst thing that can happen is they can give the car to your wife and make her pay the lease from the date of the divorce going forward. Thus, my suggestions is- do not put a lot of money down on the lease if you anticipating a divorce.

 

[Rich]

Thanks Lost_soul, that helps a lot. I had not even considered the down payment thing. Again, thanks.

BTW, any new word on the NJ buying group thing?

 

[tony]

If you can get the car leased in your company's (or employer's) name (even if you make the payments), you should be able to not have to worry about it at all.

But definitely don't put a lot of money down - sage advice for any lease I think.


------------------
Tony
'01 Spectra Blue

 

[Rich]

I just asked my boss about it. Might be tough though, our companies went public not too long ago so it's not as easy as asking one of the company owners anymore (Boards, committees and all that nonsense now).

 

[S38]

NJ a community property state? If so, typically one of you would elect to take the car and make the payments. If that person defaults (happens a lot in divorces) the leasing company can come after either person. They are not a party to the divorce proceeding and not restricted by an order of the divorce court (like confirming the car/lease as one person's separate property).

 

[Lost_soul]

S38,

First, I don't think that NJ is a community property state. I think NY is. The reason I am saying it is because it matters where you live at the time of divorce for the state law that applies.

Second, I believe that Rich's concern is not about his inability to pay the lease but, rather that he will lose money on it because of the divorce. Btw, if you register a lease to a company owned by Rich would not necessarily do the trick. The company is his andh is wife's and a lease is an asset.

Disclaimer: once again, this is not my field of law

 

[Rich]

I'm not sure, but I think NJ is not a community property state.

Here's something else. If/when I lease the IS, my wife would have nothing to do with it at the time (her name will not appear anywhere). If she gets the car in a divorce is there some sort of transfer? How would the leasing company ever even know to go after her if she defaults?

I've heard there is a length of time after separation in NJ where she would not even be entitled to anything? I think they called it 'no fault' or something. Is this right?

Again, thanks to everyone for the help...

 

[Lost_soul]

Rich,

If the court gives her the car then the lease will have to be changed to her name. A lot of time the leasing company may refuse if your wife has a really bad credit history.

The fact that the car is in your name makes no difference as far as who it goes it. Everything you own is subject to the division to the best of my knowledge unless you clearly acquired it before the marriage

 

[Rich]

All,

Thanks for the help. I was hoping there might be some clear-cut answer to this (precedents or what have you)...guess not. It looks like I'll either have to get some legal counseling or just jump in and take the chance that the car will not be given to her (from my cold dead hands, that is). Why would I think that ANY part of a divorce would be simple? The excitement of getting the IS must be clouding my judgement!

Again, thanks.

Feel free to continue replying if you like, I will listen (just don't want to tie up everyone's time with a topic that really has nothing to do with the IS300).

Rich

 

[Longhorn]

I would much rather have an IS300 than
a wife...lower maintenance, for one thing.

 

[sklim1]

Which depreciates faster? The wife or IS300? hehe

 

[Lost_soul]

Rich,

Dude, I hope your wife does not read these posts. Otherwise she will go straight for your IS300

Btw, are you thinking of divorcing or are you already in the process of a divorce?

 

[Longhorn]

I drove an IS300. It doesn't whine or
bitch...it just purrs.

 

[Lost_soul]

I bet a new wife purrs too

However, bot the car and the wife will probably give you a headache after 8-10 years

Originally posted by Longhorn:
I drove an IS300. It doesn't whine or
bitch...it just purrs.

 

[Rich]

I'm glad you are all so sensitive on this forum! Just kidding, I've been separated for over two years now and it's just a formality at this point. My wife/ex wouldn't know a forum if she tripped over one. As far as the IS v wife thing, I think we all know the answer to that, if the IS could only cook?

Lost_soul, We haven't officially started the process, I think we (ex and I) both know it's time, at least I do anyway. I think I will seek professional advice before even bringing it up though (that way I don't do/say anything that could hurt me later on in the process). You are a lawyer, know any good divorce attorney?

If only you could lease a wife, open-end lease that is (I'll pay the premium)!

[This message has been edited by Rich (edited July 13, 2000).]

 

[Lost_soul]

I used to work with a girl once, but I kinda lost touch with her and I don't really know anyone else. As I said, this is really far from my field. The only advise is, don't engage a big law firm unless you have complex issues over the asset division and if you have a lot of those assets becausethe fees will run up really high. At a minimum a divorce will run at least $2500-3000 with any lawyer ( yes, we are really blood-sucking scum

. They will also warn you that this is retainer only and if any complex issues arise, more money might have to be filtered in.

Sorry for your troubles, man. That's why the Al Bundy "never get married" rule is so invaluable

(part the not so subtle insensitivity

 

[Rich]

Lost_soul,

Thanks for the info. Believe me, getting my IS will be the only long-term endeavor for quite some time (and by long-term I mean 36 months). Talk about learning one's lesson!!!
Live and learn I guess...

Rich

 

[Longhorn]

Late breaking news!! The 2002
IS300 will offer a microwave as
an option. So...it will be able
to cook, too!!! I just love those
Lexus engineers!!

 

[Rich]

If she gets the IS in the divorce I wonder if I can at least have her nuke my TV dinners when she drops by to pick up her alimony payments?