Section 40-3-9 - Definition of separate and community debts. - New Mexico Statutes

40-3-9. Definition of separate and community debts.

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.