New Mexico Statutes 45-2-807. Death of spouse; community property
A. Upon the death of either spouse, one-half of the community property belongs to the surviving spouse, and the other half is subject to the testamentary disposition of the decedent, except that community property that is joint tenancy property under Subsection B of Section 40-3-8 N.M. Stat. Ann. shall not be subject to the testamentary disposition of the decedent.
Terms Used In New Mexico Statutes 45-2-807
- Decedent: A deceased person.
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
B. Upon the death of either spouse, the entire community property is subject to the payment of community debts. The deceased spouse’s separate debts and funeral expenses and the charge and expenses of administration are to be satisfied first from his separate property, excluding property held in joint tenancy. Should such property be insufficient, then the deceased spouse’s undivided one-half interest in the community property shall be liable.
C. The provisions of the 1984 amendments to this section shall not affect the right of any creditor, which right accrued prior to the effective date of those amendments.