New Mexico Prenuptial Property Agreement Designating Status of Separate and Community Property
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FAQ
New Mexico is one of only nine states that have community property laws relating to divorce and marital property division. And like many other legal concepts, it starts out simple enough but becomes much more complicated once spouses begin exploring the option of divorce and arguing about fairness.
New Mexico's Community Property laws mean that any earnings or debts originating before or after the period of marriage will be considered separate property. Everything earned or bought during the marriage will have to be split 50/50.
New Mexico is a community property state, however many states enforce separate property laws. In situations where property is bought before or after a marriage, even during a marriage in some instances, that property is considered separate property.
Matrimonial property is defined as all the assets belonging to the parties (whether jointly or solely) at the relevant date (see below) which were acquired during the marriage but before the relevant date.
New Mexico is a community property state. This means that any property that belongs to the marriage must be split equally between the spouses when they divorce. Likewise, all debts incurred during the marriage (with the exception of gambling debts) belong to both spouses equally.
In New Mexico, Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, and Wisconsin all property acquired during the marriage is considered community property, meaning it is owned by both spouses equally.
What Is Considered Separate Property and Debt in New Mexico? New Mexico law defines separate property as any property that was: Acquired by either spouse before marriage or after entry of a decree of dissolution of marriage or legal separation.
