Blog

Property Division

Roybal-Mack & Cordova, PC

We Can Help with Your Family Law
Matters

We Can Help with Your Family Law Matters

Dedicated Advocacy. Meaningful Results.

When you file for a divorce in New Mexico, you will quickly discover that state laws make it extremely difficult for you and your spouse to merely “part ways.” Once you file for divorce, you will need to work out a number of legal issues, one of which is property division. The Albuquerque divorce lawyers at Roybal-Mack & Cordova, PC can educate you on New Mexico’s property division laws and advise you on what to expect based on yours and your spouse’s circumstances.

Division Of Property In New Mexico

New Mexico is one of the few remaining states that recognizes community property laws. In community property states, there exists a rebuttable presumption that all property a couple acquires during a marriage, with the exception of gifts and inheritances, is marital property — meaning, it belongs to both parties. All marital property is subject to equal division during divorce, regardless of in whose name the community property is titled.

Along with major assets such as homes, vehicles and furniture, marital property may include the following:

  • Income
  • Awards for lost wages
  • Bank and retirement accounts
  • Pensions
  • Life insurance plans

Even in community property states, some property is considered sacred and separate. Separate property may include the following:

  • Inheritances
  • Gifts from one spouse to another if it was the actual intent for it to be a gift
  • Awards for pain and suffering
  • Property acquired before the marriage

Beware Of Comingling

In some circumstances, separate property may become community property if individuals do not take care to keep it separate. When one party comingles a separate asset with marital ones, the asset may lose its separate designation. This may occur when, say, one spouse uses inherited money to renovate the family home or pay off marital debt. For any property to maintain its separate status, you must keep it apart from all marital property.

Dividing Debt

Just as the court presume that all property acquired during a marriage was acquired for the benefit of the community, so too will it assume that all debts were accrued for the benefit of the family unit. Thus, all debts are community debts are divided equally between parties

Bear in mind that just because a judge allocates one shared debt to one party does not mean that the other will no longer be on the hook from the creditor’s point of view. For instance, say the judge awards your spouse the car and the car payments, both of which are in both of your names. If your spouse fails to keep up with the car payments, your credit will suffer, and the lender will have every right to turn to you for repayment.

A Skilled Attorney Can Help You Obtain The Best Possible Outcome

Property division is one of the most contentious aspect of any divorce, second only to child custody. The Albuquerque property division lawyers at Roybal-Mack & Cordova, PC will advise you on how you can obtain the most favorable outcome, despite New Mexico’s community property laws. To schedule an initial consultation, contact our law office today.

We Can Help with
Your Family Law Matters

Roybal-Mack & Cordova, PC has helped thousands of families navigate the New Mexico Family Court system. We have the experience to handle all types of family law issues, including:

We also provide the legal assistance to preempt many family law issues through pre-nuptial and post-nuptial agreements as well as alternative conflict resolution through mediation.

family law attorney Albuquerque

Why Choose Us?

Roybal-Mack & Cordova, PC
We love what we do and being able to help and have a resonating impact our community and individuals within our society.
Roybal-Mack & Cordova, PC
People come to us for guidance and help, and we are able to see them to the other side of their issues and concerns.
Roybal-Mack & Cordova, PC
People come to us with their legal issues without a framework of what they need, we give them the confidence knowing they have a strong legal time on their side.
Roybal-Mack & Cordova, PC
It is our job as your lawyer to educate about the process and help through that process, if we can find peace for clients that is a big win for us to represent you as your advocates.
Roybal-Mack & Cordova, PC
We love what we do and being able to help and have a resonating impact our community and individuals within our society.
Roybal-Mack & Cordova, PC
People come to us for guidance and help, and we are able to see them to the other side of their issues and concerns.
Roybal-Mack & Cordova, PC
People come to us with their legal issues without a framework of what they need, we give them the confidence knowing they have a strong legal time on their side.
Roybal-Mack & Cordova, PC
It is our job as your lawyer to educate about the process and help through that process, if we can find peace for clients that is a big win for us to represent you as your advocates.

What Our Clients Say

family law attorney Albuquerque

Find Your
Family Law Attorney

If you are facing a family crisis that requires legal intervention, contact Roybal-Mack & Cordova, PC in Albuquerque. Interview our team to find the family law attorney who can best steer your family toward a better future.

Call us to interview our Albuquerque-based team and take the legal action required to move towards a better future.

Get a FREE
Consultation

Get a FREE Consultation

Play Video