property

Community Property and Spousal Joinder (New Mexico)

New Mexico is a community property state: property acquired by either spouse during marriage is presumed community, while property owned before marriage or received by gift or inheritance is separate (NMSA 40-3-8). Under NMSA 40-3-13, both spouses must sign any transfer, mortgage or contract to transfer community real property, and leases over five years. An instrument signed by one spouse alone in violation is void. Purchase-money mortgages and one spouse's separate property in that spouse's name alone are exceptions.