Although New Mexico is a community property state, that doesn’t mean everything is split exactly in half in a divorce. Community property is basically anything that isn’t considered a separate property that was acquired by either or both spouses during a marriage. Property acquired as tenants in common or as joint tenants will be presumed to be held as community property unless the separate property definitions or a writing says otherwise. Community debt is whatever isn’t separate debt.
To complicate matters further, there’s also “quasi-community property,” which is all real or personal property wherever it’s located, that isn’t separate property and that was acquired by either spouse while living elsewhere which would’ve been community property if acquired while living in New Mexico at that time OR real or personal property exchanged for while living in New Mexico. Quasi-community property is treated as community property if both parties live in New Mexico at the time of divorce or legal separation.