In a New Mexico dissolution proceeding, the court must determine how to divide the debt of the spouses. This generally requires the court to do three things: identify all debts, classify the debts, and divide the debts.
New Mexico is one of only a few states that follows the law of community property. In general, this means that when either spouse acquires property during the marriage, that property is presumed to be community property. Community property laws apply to real property, such as land and houses thereon, as well as personal property, such as cars and home furnishings.