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Current as of January 01, 2024 | Updated by FindLaw Staff
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 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.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 40. Domestic Affairs § 40-3-9. Definition of separate and community debts - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-40-domestic-affairs/nm-st-sect-40-3-9/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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