Common Contracts
1 similar Sole and Separate Property Agreement contracts
Sole and separate property agreement form new mexicoSole and Separate Property Agreement • July 6th, 2023
New Mexico is a community property state, which effectively means that nearly any and all property acquired during the marriage by either spouse is co-owned by both spouses. The only exception is for specific types of property that can be considered “separate property.” New Mexico law (N.M.A.S. §40-3-8) refers to five distinct reasons a piece of property might be considered legally separate: The property was acquired prior to the declaration of marriage or after the dissolution of the marriage Property acquired after the petition for dissolution of marriage has been filed and once the division of assets has already begun Property that can be justified to be declared as separate, which must be confirmed in a judgement or court decree “Property acquired by either spouse by gift, bequest, devise or descent [inheritance]” Property that has been declared as separate according to a legally valid written agreement consented to by both spouses, such as property described as separate under a pr
