Results 1 to 10 of 10

Hybrid View

  1. #1
    Join Date
    May 2005
    Location
    NM
    Posts
    16

    Default Is separate property upheld in New Mexico

    In practice, do divorce courts in community property states such as New Mexico uphold the separate property right in cases where an individual is careful not to mingle it with marital assets? For example, a spouse has a separate bank account prior to marriage, and does not touch it during marriage. The individual does not contribute funds to it, nor withdraw funds from it.

    Thanks.

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Separate Property in New Mexico

    It is wise to enter into either a prenuptial agreement, or at least a formal, written itemization of separate property, before marriage. New Mexico respects separate property, but unusual facts can come up, or a judge may decide that the equities justify considering the separate asset when assessing spousal support. Also, issues can arise if the marital debts exceed the liquid assets and the equity in the marital home.

    So if the individual is not yet married, it may be wise to consult a New Mexico lawyer about a prenuptial agreement.

  3. #3
    Join Date
    May 2005
    Location
    NM
    Posts
    16

    Default NM separate property

    Aaron,

    Would a post nuptial agreement be as effective as a prenuptial?

    MM

  4. #4
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default New Mexico Post-Nuptial Agreement

    New Mexico statutes (e.g., NMSA Section 40-4-7.2. Binding arbitration option; procedure) and case law (e.g., In re Salopek, 107 P.3d 1 (2005)) suggests that New Mexico does honor post-nuptial agreements. However, it is wise to have such an agreement drafted by a lawyer, to make sure that it is valid and enforceable.

  5. #5
    Join Date
    May 2005
    Location
    NM
    Posts
    16

    Default NM separate property

    Aaron,

    Can you give an example of the "unusual facts" that you talk about? Also, is a post-nuptial agreement as effective as a pre-nuptial in this matter?

    MM

  6. #6
    Join Date
    May 2005
    Location
    NM
    Posts
    16

    Default NM property

    Aaron,

    Based on what you've seen from your experience, what is the typical stance a divorce judge takes when looking at an individual that has a separate bank account? Or is it all over the map?

    MM

  7. #7
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Separate Bank Account

    It really depends upon the circumstances - and I'm not sure that my Michigan experience would have much applicability in New Mexico.

  8. #8
    Join Date
    May 2005
    Location
    NM
    Posts
    16

    Default NM Property

    Thank you.

    MM

  9. #9
    Join Date
    May 2005
    Location
    NM
    Posts
    16

    Default NM Property law

    Aaron,

    Do you have examples of case rulings from NM where the separate property right was upheld despite a claim from one of the spouses?

    MM

  10. #10
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Researching Separate Property

    You may be able to find some relevant case law through a research service like LexisOne.

    1. Sponsored Links
       

Similar Threads

  1. Designating Separate Property
    By dis737 in forum Estate Planning, Administration and Probate
    Replies: 1
    Last Post: 06-26-2010, 08:34 PM
  2. Sole And Separate Property
    By Coprolite in forum Estate Planning, Administration and Probate
    Replies: 1
    Last Post: 12-26-2007, 06:04 AM
  3. Property Division: Tax filing with separate property
    By artms in forum Divorce, Annulment and Separation
    Replies: 2
    Last Post: 03-28-2007, 12:21 PM
  4. Property Division: Separate vs Community Property
    By Akina in forum Divorce, Annulment and Separation
    Replies: 4
    Last Post: 01-15-2007, 02:47 PM
  5. Property Division: Community Property vs. Sole and Separate Property
    By neveragain in forum Divorce, Annulment and Separation
    Replies: 3
    Last Post: 03-14-2006, 11:11 AM
 
 
Sponsored Links

Legal Help, Information and Resources