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.
Property Basics: How Is Property Divided in a New Mexico Divorce?
This sounds pretty simple, but, as the saying goes, "the devil is in the details." The presumption of the law is that any assets acquired belong to both.