NM Bar Practice Questions - New Mexico Bar Examination Exam

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A couple lived and worked in Texas for ten years, where the husband accumulated a retirement account funded entirely by his Texas earnings. They then moved to New Mexico and later filed for divorce in New Mexico, where both are now domiciled. How is the Texas-earned retirement account treated in the New Mexico dissolution?

As the husband's separate property because it was earned outside New Mexico As an equitable-distribution asset divided according to need As property governed exclusively by Texas law and not divisible in New Mexico As quasi-community property, treated as community property for purposes of division

Correct Answer:

As quasi-community property, treated as community property for purposes of division

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