New Mexico § 40-3-11 - Priorities for satisfaction of community debts
Full text of New Mexico New Mexico Statutes Annotated § 40-3-11 — Priorities for satisfaction of community debts, with citation guidance and answers to common questions.
§ 40-3-11. Priorities for satisfaction of community debts
A. Community debts shall be satisfied first from all community property and all property
in which each spouse owns an undivided equal interest as a joint tenant or tenant
in common, excluding the residence of the spouses. Should such property be insufficient, community debts shall then be satisfied from
the residence of the spouses, except as provided in Subsection B of this section or Section 42-10-9 NMSA 1978 . Should such property be insufficient, only the separate property of the spouse who
contracted or incurred the debt shall be liable for its satisfaction. If both spouses contracted or incurred the debt, the separate property of both spouses
is jointly and severally liable for its satisfaction. B. Unless both spouses join in writing in the creation of the underlying debt or obligation
incurred after the marriage, a judgment or other process arising out of such post-marital
debt against one spouse alone or both spouses shall not create a lien or otherwise
be subject to execution against the interest of the nonjoining spouse in the marital
residence, whether held by the spouses as community property, joint tenants or tenants
in common. C. The priorities or exemptions established in this section for the satisfaction of
community debts must be claimed by either spouse under the procedure set forth in Section 42-10-13 NMSA 1978, or the right to claim such priorities or exemptions is waived as between a
spouse and the creditor. D. This section shall apply only while both spouses are living and shall not apply
to the satisfaction of debts after the death of one or both spouses.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 40-3-11
What does New Mexico Statutes Annotated § 40-3-11 cover?
Section 40-3-11 ("Priorities for satisfaction of community debts") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 40-3-11?
A common citation format is "New Mexico Statutes Annotated § 40-3-11" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 40-3-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.