Asset Division Lawyer Serving Albuquerque, New Mexico

Property Division Laws in New Mexico

New Mexico bases its division of property laws on community property principles. When getting divorced in a community property state, the courts require you to split all assets and debts acquired during the marriage equally.

Community property division only applies to certain assets, though. Below, we’ll discuss the assets that the state can divide using community property guidelines and those that are exempt from community property division.

Community Property

Community  property encompasses any debts or assets that you and your spouse acquired during your marriage. It does not generally matter which spouse contributed more to the purchase or whose name is on the title. Unless you have certain legal documents, like a prenuptial agreement, New Mexico law requires you to divide marital property evenly during your divorce.

Separate Property

Separate property-which includes assets and debts acquired before your marriage-doesn’t qualify for community property division as long as you retain sole ownership during your marriage. If separate property becomes intertwined with marital property, the court may treat it as community property.

Our property division attorneys will work to keep the court from dividing property that should be kept as your separate property. This includes property you receive through inheritance or gifts.