There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 40 - Domestic Affairs
Article 3 - Property Rights
Section 40-3-9 - Definition of separate and community debts. (1983)
NM Stat § 40-3-9 (2013) What's This?
40-3-9. Definition of separate and community debts. (1983)
A. "Separate debt" means:
(1) a debt contracted or incurred by a spouse before marriage or after entry of a decree of dissolution of marriage;
(2) a debt contracted or incurred by a spouse after entry of a decree entered pursuant to Section 40-4-3 NMSA 1978, unless the decree provides otherwise;
(3) a debt designated as a separate debt of a spouse by a judgment or decree of any court having jurisdiction;
(4) a debt contracted by a spouse during marriage which is identified by a spouse to the creditor in writing at the time of its creation as the separate debt of the contracting spouse;
(5) a debt which arises from a tort committed by a spouse before marriage or after entry of a decree of dissolution of marriage or a separate tort committed during marriage; or
(6) a debt declared to be unreasonable pursuant to Section 2 [40-3-10.1 NMSA 1978] of this act.
B. "Community debt" means a debt contracted or incurred by either or both spouses during marriage which is not a separate debt.
History: 1953 Comp., § 57-4A-3, enacted by Laws 1973, ch. 320, § 4; 1983, ch. 75, § 1.
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