No, New York is not a community property state when it comes to asset division during a divorce. Rather than following community property rules or dividing assets 50/50, marital assets are distributed following the state’s equitable distribution laws. In other words, the court will decide how marital assets will be divided in a fair and equitable manner, and usually, each spouse will end up with a percentage of the marital property. Likewise, it is important to remember that debts and liabilities accrued during the marriage will also be divided in a similar manner, making each spouse responsible for repaying their share of marital debt.