What is considered community property in New Mexico?

What is considered community property in New Mexico?

What Is Considered Marital Property in New Mexico? Although New Mexico is a community property state, that doesn't mean everything is split exactly in half in a divorce. Community property is basically anything that isn't considered separate property that was acquired by either or both spouses during a marriage.

Is New Mexico a common law state?

New Mexico does recognize common law marriages only if the marriage would have been held legal in another state. While couples from New Mexico cannot proceed with a divorce without a valid marriage license, New Mexico will recognize common law marriages that have been transferred from other states.

What is considered community property in a marriage?

Marital property in community property states is owned by both spouses equally. This marital property includes earnings, all property bought with those earnings, and all debts accrued during the marriage.