joint propery in bk7, but not married.

[ronnieron]

if i own a car with my girlfriend and car is worth 12. how is tgis looked at by the trustee? i have a 50% ownership in the vehicle so my 6k would be exempted in AZ, can the trustee still take the vehicle?

also how long should one wait after purchasing a vehicle before filing? what valuatuon should we be using, i of course want to use the lowest one i possiblly could by law?

thx

[justbroke]

My thoughts are whether how it is titled matters in Arizona. In Florida, it can be titled between persons by the conjunction "and" or "or". In Florida having an "or" is not good because each owns 100%.

I wonder if our friend despritfreya answer this question.

[despritfreya]

If you truly co-own the vehicle (You "and" not "or" girlfriend on title) you would list that you have a 1/2 interest in it and claim the allowed exemption. Valuation would be full value but value to the estate would be 1/2. However, it sounds like OP has not purchased the vehicle yet. If the funds used to purchase the vehicle are not 50/50 then neither is ownership. OP, I recommend you go visit with an attny before you purchase the vehicle or do anything for that matter.

Des