In terms of transferring ownership/responsibility for the car to your husband you would need to contact the bank that holds your auto loan and ask what they require to transfer the note to him. If you just let him make the payments without legal transfer, your credit would be at risk as noted above. if he can't pay for some reason.
To me, the solution really depends on what your relationship will look like going forward. If you have an amicable relationship with him, perhaps you can work out some sort of creative solution that would involve some trust between the two of you. Otherwise you may just have to give him the cash from your retirement and sell the vehicle to replenish your account. Good luck.
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Bear in mind that unless he can refinance the car in his name, when he screws up and defaults, the lender may take the car from him, but they will sue you, ruin your credit and then garnishee you when you can't pay the judgment. Discuss this with your lawyer, and yes, you need one.
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As long as there is a note for the car (car payments) there will also be a lien on the car's titled. The only way to transfer that titled would be to first obtain permission from the lienholder to transfer the title. A lienholder usually is not willing to consent to such transfer unless either the lien is being paid in full or the new owner qualifies as a worthy financial risk for the debt. Based on what you've provided in your question, you will NOT be able to transfer ownership of your car to your husband.
The solution for your predicament will be contained within the terminology of your divorce decree only. You should consider retaining the services of a family law attorney to assist you with drafting your final documents in a way that best reflects your agreement and protects you both from any problems that may occur if the terms are not adhered to. The minimal amount that you would have to pay in attorney's fees will save you a lot in the long run.
I hope this information helps answer your question(s).
~ Kem Eyo
The above answer is a general explanation of legal rights and procedures. It does not constitute legal advice. Nor does it establish an attorney-client relationship between the individual posting the question and the attorney providing the answer.
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