When a couple gets divorced, one of the major issues that must be addressed is the division of their property. In states like New Mexico, the law dictates that all property acquired during the marriage is considered community property and must be divided equally between the spouses. This means that any assets or debts accumulated during the marriage are considered to belong equally to both spouses, regardless of who earned or incurred them.
At Justice Legal Group, we have extensive experience in handling community property issues in divorce cases. Our attorneys can help you understand your rights and options when it comes to the division of your property and assist you in negotiating a fair and equitable settlement.
One of the key considerations in a divorce case involving community property is determining what property is actually considered community property. In general, all assets and debts acquired during the marriage are considered community property, regardless of whether they are in the name of one spouse or both. This can include things like homes, cars, bank accounts, and retirement accounts.
However, there are some exceptions to this rule. Property that was acquired by one spouse before the marriage, or through inheritance or gift, is generally considered separate property and is not subject to division in a divorce. Additionally, any property that was acquired after the date of separation may also be considered separate property, depending on the circumstances.
The process of dividing community property in a divorce case can be complex, and it is important to have an experienced attorney on your side to protect your rights and interests. At Justice Legal Group, we have a team of skilled attorneys who can help you understand your options and negotiate a fair settlement. If you are facing a divorce and have questions about your community property rights, don’t hesitate to contact us at 505-880-8737.