40-3-9. Definition of separate and community debts.
195 words·~1 min read·
/nm/chapter-40-domestic-affairs/article-3-property-rights/40-3-9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.