[Rev. 2/10/2015 4:15:33
PM--2014R2]
TITLE 10 - PROPERTY RIGHTS AND TRANSACTIONS
CHAPTER 111 - ESTATES IN PROPERTY;
CONVEYANCING AND RECORDING
GENERAL PROVISIONS
NRS 111.010 Definitions.
NRS 111.015 Power
of court to compel specific performance not abridged.
NRS 111.020 Instruments
may be subscribed by lawful agents.
NRS 111.025 Conveyances
void against purchasers are void against their heirs or assigns.
NRS 111.040 Validity
of conveyances made before December 2, 1861.
NRS 111.045 Legality
of conveyances executed before December 2, 1861, depends on laws and customs of
mining and agricultural districts.
NRS 111.050 Chapter
not to be construed to conflict with lawful mining rules, regulations and
customs.
ESTATES IN PROPERTY
NRS 111.055 Nonresident
aliens, persons and corporations may hold real property.
NRS 111.060 Tenancy
in common: Definition.
NRS 111.063 Tenancy
in common: Creation.
NRS 111.064 Tenancy
in common or estate in community property: Creation; right of survivorship.
NRS 111.065 Joint
tenancy in real and personal property: Creation.
NRS 111.070 Fee
simple: Words of inheritance not necessary.
NRS 111.075 “Heir”
or “issue” in remainders.
NRS 111.080 Contingent
future interest: Defeat on birth of posthumous child.
NRS 111.085 Estates
tail: Enjoyment by posthumous child.
NRS 111.090 Grants
of rents, reversions and remainders effective without attornments of tenants.
NRS 111.095 When
attornment of tenant void.
NRS 111.100 Lineal
and collateral warranties abolished.
NRS 111.101 Abolishment
of Rule in Shelley’s Case.
NRS 111.102 Abolishment
of doctrine of destructibility of contingent remainders.
RULE AGAINST PERPETUITIES (UNIFORM ACT)
NRS 111.103 Short
title; uniformity of application and construction.
NRS 111.1031 Statutory
rule against perpetuities.
NRS 111.1033 When
nonvested property interest or power of appointment created.
NRS 111.1035 Reformation.
NRS 111.1037 Exclusions
from statutory rule against perpetuities.
NRS 111.1039 Prospective
application.
CONVEYANCING; STATUTE OF FRAUDS
NRS 111.105 Conveyances
by deed.
NRS 111.115 Proof
of execution of conveyance.
NRS 111.120 Conditions
necessary before proof by subscribing witness can be taken.
NRS 111.125 Proof
required from subscribing witnesses.
NRS 111.130 Contents
of certificate of proof.
NRS 111.135 When
proof by evidence of handwriting may be taken.
NRS 111.140 Statements
of witnesses under oath before certificate granted.
NRS 111.145 Witnesses
to conveyance may be subpoenaed.
NRS 111.150 Penalty
for failure of witness to appear when subpoenaed.
NRS 111.155 Conveyance
acknowledged or proved may be read in evidence.
NRS 111.160 After-acquired
title passes to grantee.
NRS 111.165 Adverse
possession does not prevent sale and conveyance.
NRS 111.167 Presumption
of conveyance with land: Water rights, permits, certificates and applications
appurtenant to land.
NRS 111.170 Construction
of words “grant, bargain and sell” in conveyances; suit upon covenants.
NRS 111.175 Conveyances
made to defraud prior or subsequent purchasers are void.
NRS 111.180 Bona
fide purchaser: Conveyance not deemed fraudulent in favor of bona fide
purchaser unless subsequent purchaser had actual knowledge, constructive notice
or reasonable cause to know of fraud.
NRS 111.185 Power
of revocation at will.
NRS 111.190 Revocation
and reconveyance.
NRS 111.195 Effect
of conveyance made before power of revocation can be exercised.
NRS 111.200 Limitations
on terms of leases.
NRS 111.205 No
estate created in land unless by operation of law or written conveyance; leases
for terms not exceeding 1 year.
NRS 111.210 Contracts
for sale or lease of land for periods in excess of 1 year void unless in
writing.
NRS 111.220 Agreements
not in writing: When void.
NRS 111.235 Grants
and assignments of existing trusts to be in writing or are void.
VOIDABLE RESTRICTIONS AND PROHIBITIONS
NRS 111.237 Prohibition
or restriction based on race, color, religion, ancestry or national origin.
NRS 111.238 Prohibition
on display of flag of the United States on property.
NRS 111.239 Prohibition
or restriction on use of system for obtaining solar energy on property.
NRS 111.2395 Prohibition
or restriction on use of system for obtaining wind energy on property;
exceptions.
ACKNOWLEDGMENT OF INSTRUMENTS
NRS 111.240 Acknowledgment
of conveyances.
NRS 111.265 Persons
authorized to take acknowledgment or proof within State.
RECORDING
NRS 111.310 Instruments
entitled to recordation; patents need not be acknowledged.
NRS 111.312 Requirements
for recording certain documents relating to real property.
NRS 111.315 Recording
of conveyances and instruments: Notice to third persons.
NRS 111.320 Filing
of conveyances or other instruments is notice to all persons: Effect on
subsequent purchasers and mortgagees.
NRS 111.325 Unrecorded
conveyances void as against subsequent bona fide purchaser for value when conveyance
recorded.
NRS 111.340 Certificate
of acknowledgment and record may be rebutted.
NRS 111.345 Proof
taken upon oath of incompetent witness: Instrument not admissible until
established by competent proof.
NRS 111.347 Recording
defective instrument: Notice to subsequent purchasers; admissibility in
evidence.
NRS 111.350 Conveyances
or other instruments recorded before December 17, 1862: Notice to subsequent
purchasers; certified copies as evidence.
NRS 111.353 Recording
of master form mortgages and deeds of trust; incorporation of provisions by
reference in subsequently recorded instruments.
NRS 111.355 Recordation
of only part of instrument under certain conditions.
NRS 111.365 Recording
affidavit of death of joint tenant or spouse holding community property with
right of survivorship creates disputable presumption title vested in survivor;
county recorder to send information contained in affidavits monthly to
Department of Health and Human Services.
ELECTRONIC RECORDING OF REAL PROPERTY (UNIFORM ACT)
NRS 111.366 Short
title.
NRS 111.3663 Definitions.
NRS 111.3667 “Document”
defined.
NRS 111.367 “Electronic”
defined.
NRS 111.3673 “Electronic
document” defined.
NRS 111.3675 “Electronic
signature” defined.
NRS 111.3677 “Person”
defined.
NRS 111.368 “State”
defined.
NRS 111.3683 Applicability.
NRS 111.3685 Validity
of electronic documents.
NRS 111.3687 Recording
of documents.
NRS 111.369 Administration
and standards.
NRS 111.3693 Uniformity
of application and construction.
NRS 111.3697 Relation
to Electronic Signatures in Global and National Commerce Act.
EASEMENT FOR COLLECTION OF SOLAR ENERGY
NRS 111.370 Creation
of easement by grant; signing, recording and contents of instrument creating
easement.
NRS 111.375 Vesting
of easement; effect of transfer of land.
NRS 111.380 Termination,
modification or extinguishment of easement.
EASEMENTS FOR CONSERVATION
NRS 111.390 General
purpose.
NRS 111.400 Scope.
NRS 111.410 Definitions.
NRS 111.420 Creation;
recording; duration; effect on existing interest in real property.
NRS 111.430 Actions
affecting easements for conservation.
NRS 111.440 Validity.
REAL PROPERTY TRANSFER ON DEATH (UNIFORM ACT)
NRS 111.655 Short
title.
NRS 111.657 Definitions.
NRS 111.659 “Beneficiary”
defined.
NRS 111.661 “Deed
upon death” defined.
NRS 111.663 “Designated
beneficiary” defined.
NRS 111.665 “Grantor”
defined.
NRS 111.667 “Person”
defined.
NRS 111.669 “Property”
defined.
NRS 111.671 Creation
of deed upon death.
NRS 111.673 Designation
of beneficiary.
NRS 111.675 Requirements
for property held as joint tenancy or community property with right of
survivorship.
NRS 111.677 Void
if interest in property transferred before death; last recorded deed upon death
is effective.
NRS 111.679 Capacity
to make or revoke.
NRS 111.681 Execution
and recordation.
NRS 111.683 Effective
without notice or consideration.
NRS 111.685 Effect
of deed upon death during owner’s lifetime.
NRS 111.687 Disclaimer
by beneficiary.
NRS 111.689 Enforcement
of liabilities against property transferred pursuant to deed upon death.
NRS 111.691 Property
transferred by deed upon death subject to prior lien.
NRS 111.693 Limitations
concerning Medicaid payments.
NRS 111.695 Form
of deed upon death.
NRS 111.697 Form
of revocation of deed upon death.
NRS 111.699 Form
of Death of Grantor Affidavit; required documents upon death of grantor.
NONPROBATE TRANSFER OF PROPERTY UPON DEATH
General Provisions
NRS 111.700 Definitions.
NRS 111.701 “Account”
defined.
NRS 111.703 “Agent”
defined.
NRS 111.705 “Beneficiary”
defined.
NRS 111.707 “Contract”
defined.
NRS 111.709 “Devisee”
defined.
NRS 111.711 “Financial
institution” defined.
NRS 111.713 “Governing
instrument” defined.
NRS 111.715 “Heirs”
defined.
NRS 111.717 “Held
in beneficiary form” defined.
NRS 111.719 “Multiple-party
account” defined.
NRS 111.721 “Nonprobate
transfer” defined.
NRS 111.723 “Party”
defined.
NRS 111.725 “Payment”
defined.
NRS 111.727 “Personal
representative” defined.
NRS 111.729 “POD
designation” defined.
NRS 111.731 “Receive”
defined.
NRS 111.733 “Register
in beneficiary form” defined.
NRS 111.735 “Request”
defined.
NRS 111.737 “State”
defined.
NRS 111.739 “Sums
on deposit” defined.
NRS 111.741 “Terms
of the account” defined.
NRS 111.743 “Transferring
entity” defined.
NRS 111.745 “Trust”
defined.
NRS 111.747 “Trustee”
defined.
NRS 111.749 “Will”
defined.
General Personal and Miscellaneous Property
NRS 111.751 Provision
for nonprobate transfer in contract.
NRS 111.753 Authority
of agent to make nonprobate transfer of property after death of owner.
NRS 111.755 Agreement
between owner and transferring entity; authorized content of contract
concerning such agreement; effective date of designation of beneficiary when
transferring entity’s acceptance required.
NRS 111.757 Transfer
to designated beneficiary according to beneficiary designation or other
direction.
NRS 111.759 Proper
execution and delivery required for transfer of property upon death of owner.
NRS 111.761 Proper
execution and delivery or acknowledgment required for assignment of right to
receive performance effective upon death of owner; other methods of assignment
not precluded.
NRS 111.763 Proper
execution and acknowledgment required to transfer interest in tangible personal
property effective upon death of owner; other methods of transfer not
precluded.
NRS 111.765 Property
held in beneficiary form: Direct transfer; rights of owner; effective date of
transfer.
NRS 111.767 Rights
of designated beneficiaries; transfer of property when no beneficiary survives
owner.
NRS 111.769 Revocation
of beneficiary designation: Authorized unless expressly made irrevocable;
agreement of all owners; effect of subsequent designations or transfers;
effective date.
NRS 111.771 Property
held in beneficiary form; registration in beneficiary form; transfer-on-death
directions.
NRS 111.773 Disqualification
of beneficiary.
NRS 111.775 Authority
of agent, guardian or other fiduciary to change beneficiary designation.
NRS 111.777 Rights
of beneficiary if property lost, destroyed, damaged or converted during owner’s
lifetime.
NRS 111.779 Liability
of nonprobate transferee; proceedings to impose liability; payment of claims
against nonprobate assets.
NRS 111.781 Effect
of divorce or annulment on nonprobate transfer of property; liability of payor
for payment or transfer made in good faith; federal preemption.
Accounts in Financial Institutions
NRS 111.783 Applicability.
NRS 111.785 Single
party or multiple parties: POD designation or agency designation; governing
law.
NRS 111.787 Type
and form of account; governing law for other types of accounts.
NRS 111.789 Designation
of agent; authority of agent; designation revocable.
NRS 111.791 Beneficial
ownership: Applicability.
NRS 111.793 Proportional
ownership; exception to proportional ownership; rights of beneficiary; rights
of agent.
NRS 111.795 Rights
of surviving parties upon death of party to multiple-party account; right to
sums in account if POD designation; rights at death to sums on deposit.
NRS 111.797 Alteration
of type of account; right of survivorship not altered by will.
NRS 111.799 Transfers
not testamentary or subject to estate administration; effective with or without
consideration.
NRS 111.801 Character
of and rights in community property not altered; exception.
NRS 111.803 Authority
of financial institutions to enter into agreements of deposit; financial
institutions not required to make inquiries concerning accounts.
NRS 111.805 Payment
of sums on deposit: Multiple-party accounts.
NRS 111.807 Payments
of sums on deposit: Accounts with POD designation.
NRS 111.809 Payment
of sums on deposit: Payments to agents.
NRS 111.811 Payments
made to minors designated as beneficiaries.
NRS 111.813 Financial
institutions discharged from claims after payments; exceptions; rights of
parties not affected.
NRS 111.815 Rights
of beneficiary; limitations; liability of beneficiaries.
PRIVATE TRANSFER FEES FOR TRANSFER OF REAL PROPERTY
NRS 111.825 Definitions.
NRS 111.830 “Buyer”
defined.
NRS 111.835 “Payee”
defined.
NRS 111.840 “Private
transfer fee” defined.
NRS 111.845 “Private
transfer fee obligation” defined.
NRS 111.850 “Seller”
defined.
NRS 111.855 “Transfer”
defined.
NRS 111.860 Legislative
findings and declaration.
NRS 111.865 Private
transfer fee obligations prohibited.
NRS 111.870 Creation
before May 20, 2011; recordation; amendment; failure to record.
NRS 111.875 Enforcement
of private transfer fee obligations created before May 20, 2011.
NRS 111.880 Liability
for creation after May 20, 2011.
_________
_________
GENERAL PROVISIONS
NRS 111.010 Definitions. As
used in this chapter:
1. “Conveyance” shall be construed to
embrace every instrument in writing, except a last will and testament, whatever
may be its form, and by whatever name it may be known in law, by which any
estate or interest in lands is created, aliened, assigned or surrendered.
2. “Estate and interest in lands” shall be
construed and embrace every estate and interest, present and future, vested and
contingent, in lands as defined in subsection 3.
3. “Lands” shall be construed as
coextensive in meaning with lands, tenements and hereditaments, and shall
include in its meaning all possessory right to the soil for mining and other
purposes.
[74:9:1861; B § 302; BH § 2643; C § 2713; RL § 1088;
NCL § 1545] + [75:9:1861; B § 303; BH § 2644; C § 2714; RL § 1089; NCL § 1546]
NRS 111.015 Power of court to compel specific performance not abridged. Nothing contained in this chapter shall be
construed to abridge the powers of courts to compel the specific performance of
agreements in cases of part performance of such agreements.
[59:9:1861; B § 287; BH § 2628; C § 2698; RL § 1073;
NCL § 1531]
NRS 111.020 Instruments may be subscribed by lawful agents. Every instrument required by any of the
provisions of this chapter to be subscribed by any party, may be subscribed by
the lawful agent of such party.
[68:9:1861; B § 296; BH § 2637; C § 2707; RL § 1082;
NCL § 1539]
NRS 111.025 Conveyances void against purchasers are void against their heirs
or assigns. Every conveyance,
charge, instrument or proceeding declared to be void by the provisions of this
chapter, as against purchasers, shall be equally void as against the heirs,
successors, personal representatives or assigns of such purchasers.
[71:9:1861; B § 299; BH § 2640; C § 2710; RL § 1085;
NCL § 1542]—(NRS A 1959, 418)
NRS 111.040 Validity of conveyances made before December 2, 1861. All conveyances of real property made,
acknowledged or proved prior to December 2, 1861, according to the laws in
force at the time of the making, acknowledgment or proof, shall have the same
force as evidence, and be recorded in the same manner and with like effect as
conveyances executed and acknowledged in pursuance of this chapter.
[39:9:1861; B § 267; BH § 2608; C § 2678; RL § 1053;
NCL § 1511]
NRS 111.045 Legality of conveyances executed before December 2, 1861,
depends on laws and customs of mining and agricultural districts. The legality of the execution, acknowledgment,
proof, form or record of any conveyance, or other instrument made, executed,
acknowledged, proved or recorded prior to December 2, 1861, shall not be
affected by anything contained in this chapter, but shall depend for its
validity or legality upon the laws and customs then in existence and in force
in the mining and agricultural districts.
[40:9:1861; B § 268; BH § 2609; C § 2679; RL § 1054;
NCL § 1512]
NRS 111.050 Chapter not to be construed to conflict with lawful mining
rules, regulations and customs. This
chapter shall not be so construed as to interfere or conflict with the lawful
mining rules, regulations or customs in regard to the locating, holding or
forfeiture of claims, but, in all cases of mortgages of mining interests under
this chapter, the mortgagee shall have the right to perform the same acts that
the mortgagor might have performed for the purpose of preventing a forfeiture
of the same under the rules, regulations or customs of mines, and shall be
allowed such compensation therefor as shall be deemed just and equitable by the
court ordering the sale upon a foreclosure. Compensation shall, in no case,
exceed the amount realized from the claim by a foreclosure and sale.
[77:9:1861; B § 305; BH § 2646; C § 2716; RL § 1091;
NCL § 1548]
ESTATES IN PROPERTY
NRS 111.055 Nonresident aliens, persons and corporations may hold real
property.
1. Any nonresident alien, person or
corporation may take, hold and enjoy any real property or any interest in
lands, tenements or hereditaments within the State of Nevada as fully, freely,
and upon the same terms and conditions as any resident citizen, person or
domestic corporation.
2. Nothing contained in this section shall
be so construed as to confer any other or further rights under the statutes of
limitation than those at present existing.
[1:43:1879; A 1947, 270; 1943 NCL § 6365] +
[3:43:1879; BH § 2657; C § 2727; RL § 3603; NCL § 6366]
NRS 111.060 Tenancy in common: Definition. Every
interest in real property granted or devised to two or more persons, other than
executors and trustees, as such, shall be a tenancy in common, unless expressly
declared in the grant or devise to be a joint tenancy.
[41:9:1861; B § 269; BH § 2610; C § 2680; RL § 1055;
NCL § 1513]
NRS 111.063 Tenancy in common: Creation. Tenancy
in common in real or personal property may be created by a single conveyance
from a husband and wife holding title as joint tenants to themselves, or to
themselves and others, or to one of them and others, when such conveyance
expressly declares that the grantees thereunder are tenants in common.
(Added to NRS by 1965, 619)
NRS 111.064 Tenancy in common or estate in community property: Creation;
right of survivorship.
1. Estates as tenants in common or estates
in community property may be created by conveyance from husband and wife to
themselves or to themselves and others or from a sole owner to himself or
herself and others in the same manner as a joint tenancy may be created.
2. A right of survivorship does not arise
when an estate in community property is created in a husband and wife, as such,
unless the instrument creating the estate expressly declares that the husband
and wife take the property as community property with a right of survivorship.
This right of survivorship is extinguished whenever either spouse, during the
marriage, transfers the spouse’s interest in the community property.
(Added to NRS by 1965, 618; A 1981, 1377)
NRS 111.065 Joint tenancy in real and personal property: Creation.
1. Joint tenancy in real property may be
created by a single will or transfer when expressly declared in the will or
transfer to be a joint tenancy, or by transfer from a sole owner to himself or
herself and others, or from tenants in common to themselves, or to themselves
and others, or to one of them and others, or from a husband and wife when
holding title as community property or otherwise to themselves, or to
themselves and others, or to one of them and others, when expressly declared in
the transfer to be a joint tenancy, or when granted or devised to executors or
trustees as joint tenants.
2. A joint tenancy in personal property
may be created by a written transfer, agreement or instrument.
[1:21:1939; 1931 NCL § 3710]—(NRS A 1965, 619)
NRS 111.070 Fee simple: Words of inheritance not necessary.
1. The term “heirs,” or other words of inheritance,
shall not be necessary to create or convey an estate in fee simple.
2. Every conveyance of any real property
hereafter executed shall pass all the estate of the grantor, unless the intent
to pass a less estate shall appear by express terms, or be necessarily implied
in the terms of the grant.
[42:9:1861; B § 270; BH § 2611; C § 2681; RL § 1056;
NCL § 1514]
NRS 111.075 “Heir” or “issue” in remainders. Where
a remainder in lands or tenements, goods or chattels shall be limited by deed
or otherwise, to take effect on the death of any person without heirs, or heirs
of his or her body, or without issue, the word “heir,” or “issue,” shall be
construed to mean heirs or issue living at the death of the person named as
ancestor.
[43:9:1861; B § 271; BH § 2612; C § 2682; RL § 1057;
NCL § 1515]
NRS 111.080 Contingent future interest: Defeat on birth of posthumous child. A future estate, depending on the contingency
of the death of any person without heirs or issue, or children, shall be
defeated by the birth of a posthumous child of such person capable of taking by
descent.
[44:9:1861; B § 272; BH § 2613; C § 2683; RL § 1058;
NCL § 1516]
NRS 111.085 Estates tail: Enjoyment by posthumous child. Where an estate shall be any conveyance
limited, in remainder, to the son or daughter or issue, or to use of the son or
daughter or issue of any person to be begotten, such son or daughter or issue,
born after the decease of his or her parent, shall take the estate in the same
proportion, and in the same manner, as if he or she had been born in the lifetime
of the parent, although no estate shall have been created or conveyed to
support the contingent remainder after his or her death.
[45:9:1861; B § 273; BH § 2614; C § 2684; RL § 1059;
NCL § 1517]
NRS 111.090 Grants of rents, reversions and remainders effective without
attornments of tenants. Grants of
rents, or of reversions, or remainders, shall be good and effectual without
attornments of the tenants; but no tenant who, before notice of the grant,
shall have paid rent to the grantor shall suffer any damage thereby.
[46:9:1861; B § 274; BH § 2615; C § 2685; RL § 1060;
NCL § 1518]
NRS 111.095 When attornment of tenant void. The
attornment of a tenant to a stranger shall be void unless it be with the
consent of the landlord of such tenant, or in pursuance to, or in consequence
of, a judgment or decree of some court of competent jurisdiction.
[47:9:1861; B § 275; BH § 2616; C § 2686; RL § 1061;
NCL § 1519]
NRS 111.100 Lineal and collateral warranties abolished. Lineal and collateral warranties, with all
their incidents, are abolished; but the heirs and devisees of every person who
shall have made any covenant or agreement in reference to the title of, in or
to any real property, shall be answerable upon such covenant or agreement to
the extent of the land descended or devised to them, in the cases and in the
manner prescribed by law.
[48:9:1861; B § 276; BH § 2617; C § 2687; RL § 1062;
NCL § 1520]—(NRS A 1959, 418)
NRS 111.101 Abolishment of Rule in Shelley’s Case. If
land is granted or devised to a person and after the person’s death to his or
her heirs or the heirs of his or her body, regardless of how the grant or
devise is expressed, an estate for life vests in that person and his or her heirs
take the remainder pursuant to the grant or devise and not through that person.
The purpose of this section is to abolish the Rule in Shelley’s Case.
(Added to NRS by 1983, 927)
NRS 111.102 Abolishment of doctrine of destructibility of contingent
remainders. A contingent remainder
is not destroyed by the termination of the preceding estate before the
satisfaction of the condition upon which the remainder is contingent. If the
condition is subsequently satisfied, the remainder takes effect in the same
manner as a springing or shifting executory interest. The purpose of this
section is to abolish the doctrine of the destructibility of contingent
remainders.
(Added to NRS by 1983, 928)
RULE AGAINST PERPETUITIES (UNIFORM ACT)
NRS 111.103 Short title; uniformity of application and construction. NRS 111.103 to 111.1039, inclusive:
1. May be cited as the Uniform Statutory
Rule Against Perpetuities; and
2. Must be applied and construed to
effectuate their general purpose to make uniform the law with respect to their
subject among states enacting the Uniform Statutory Rule Against Perpetuities.
(Added to NRS by 1983, 928; A 1987, 64)
NRS 111.1031 Statutory rule against perpetuities.
1. A nonvested property interest is
invalid unless:
(a) When the interest is created, it is certain
to vest or terminate no later than 21 years after the death of a natural person
then alive; or
(b) The interest either vests or terminates
within 365 years after its creation.
2. A general power of appointment not
presently exercisable because of a condition precedent is invalid unless:
(a) When the power is created, the condition
precedent is certain to be satisfied or become impossible to satisfy no later
than 21 years after the death of a natural person then alive; or
(b) The condition precedent either is satisfied
or becomes impossible to satisfy within 365 years after its creation.
3. A nongeneral power of appointment or a
general testamentary power of appointment is invalid unless:
(a) When the power is created, it is certain to
be irrevocably exercised or otherwise to terminate no later than 21 years after
the death of a natural person then alive; or
(b) The power is irrevocably exercised or
otherwise terminates within 365 years after its creation.
4. In determining whether a nonvested
property interest or a power of appointment is valid under paragraph (a) of
subsection 1, paragraph (a) of subsection 2 or paragraph (a) of subsection 3,
the possibility that a child will be born to a person after his or her death is
disregarded.
5. If, in measuring a period from the
creation of a trust or other property arrangement, language in a governing instrument
seeks to disallow the vesting or termination of any interest or trust beyond,
seeks to postpone the vesting or termination of any interest or trust until, or
seeks to operate in effect in any similar fashion upon, the later of:
(a) The expiration of a period of time not
exceeding 21 years after the death of the survivor of specified lives in being
at the creation of the trust or other property arrangement; or
(b) The expiration of a period of time that
exceeds or might exceed 21 years after the death of the survivor of lives in
being at the creation of the trust or other property arrangement,
Ê that
language is inoperative to the extent it produces a period of time that exceeds
21 years after the death of the survivor of the specified lives.
(Added to NRS by 1987, 62; A 1991, 116; 2005, 537, 959)
NRS 111.1033 When nonvested property interest or power of appointment
created.
1. Except as provided in subsections 2 and
3 and in subsection 1 of NRS 111.1039, the time of
creation of a nonvested property interest or a power of appointment is
determined under general principles of property law.
2. For purposes of NRS
111.103 to 111.1039, inclusive, if there is a
person who alone can exercise a power created by a governing instrument to
become the unqualified beneficial owner of:
(a) A nonvested property interest; or
(b) A property interest subject to a power of
appointment described in subsection 2 or 3 of NRS
111.1031,
Ê the
nonvested property interest or power of appointment is created when the power
to become the unqualified beneficial owner terminates. For purposes of NRS 111.103 to 111.1039,
inclusive, a joint power with respect to community property held by persons
married to each other is a power exercisable by one person alone.
3. For purposes of NRS
111.103 to 111.1039, inclusive, a nonvested
property interest or a power of appointment arising from a transfer of property
to a previously funded trust or other existing property arrangement is created
when the nonvested property interest or power of appointment in the original
contribution was created.
(Added to NRS by 1987, 63)
NRS 111.1035 Reformation. Upon
the petition of an interested person, a court shall reform a disposition in the
manner that most closely approximates the transferor’s manifested plan of
distribution and is within the 365 years allowed by paragraph (b) of subsection
1, paragraph (b) of subsection 2 or paragraph (b) of subsection 3 of NRS 111.1031 if:
1. A nonvested property interest or a
power of appointment becomes invalid under NRS
111.1031;
2. A class gift is not but might become
invalid under NRS 111.1031 and the time has
arrived when the share of any class member is to take effect in possession or
enjoyment; or
3. A nonvested property interest that is
not validated by paragraph (a) of subsection 1 of NRS
111.1031 can vest but not within 365 years after its creation.
(Added to NRS by 1987, 63; A 2005, 538, 960)
NRS 111.1037 Exclusions from statutory rule against perpetuities. NRS 111.1031 does
not apply to:
1. A nonvested property interest or a
power of appointment arising out of a nondonative transfer, except a nonvested
property interest or a power of appointment arising out of:
(a) A premarital or postmarital agreement;
(b) A separation or divorce settlement;
(c) A spouse’s election;
(d) A similar arrangement arising out of a
prospective, existing or previous marital relationship between the parties;
(e) A contract to make or not to revoke a will or
trust;
(f) A contract to exercise or not to exercise a
power of appointment;
(g) A transfer in satisfaction of a duty of
support; or
(h) A reciprocal transfer;
2. A fiduciary’s power relating to the
administration or management of assets, including the power of a fiduciary to
sell, lease or mortgage property, and the power of a fiduciary to determine
principal and income;
3. A power to appoint a fiduciary;
4. A discretionary power of a trustee to
distribute principal before termination of a trust to a beneficiary having an
indefeasibly vested interest in the income and principal;
5. A nonvested property interest held by a
charity, government, or governmental agency or subdivision, if the nonvested
property interest is preceded by an interest held by another charity,
government, or governmental agency or subdivision;
6. A nonvested property interest in or a
power of appointment with respect to a trust or other property arrangement
forming part of a pension, profit-sharing, stock bonus, health, disability,
death benefit, income deferral, or other current or deferred benefit plan for
one or more employees, independent contractors, or their beneficiaries or
spouses, to which contributions are made for the purpose of distributing to or
for the benefit of the participants or their beneficiaries or spouses the
property, income or principal in the trust or other property arrangement,
except a nonvested property interest or a power of appointment that is created
by an election of a participant or a beneficiary or spouse; or
7. A property interest, power of
appointment or arrangement that was not subject to the common-law rule against
perpetuities or is expressly excluded by another statute of this state.
(Added to NRS by 1987, 63)
NRS 111.1039 Prospective application.
1. Except as extended by subsection 2, NRS 111.103 to 111.1037,
inclusive, apply to a nonvested property interest or a power of appointment
that is created on or after July 1, 1987. For purposes of this section only, a
nonvested property interest or a power of appointment created by the exercise
of a power of appointment is created when the power is irrevocably exercised or
when a revocable exercise becomes irrevocable.
2. With respect to a nonvested property
interest or a power of appointment that was created before July 1, 1987, and
that violates the rule against perpetuities as that rule existed before that
date, a court, upon the petition of an interested person, may exercise its
equitable power to reform the disposition in the manner that most closely
approximates the transferor’s manifested plan of distribution and is within the
limits of the rule against perpetuities applicable when the nonvested property
interest or power of appointment was created.
(Added to NRS by 1987, 64)
CONVEYANCING; STATUTE OF FRAUDS
NRS 111.105 Conveyances by deed. Conveyances
of lands, or of any estate or interest therein, may be made by deed, signed by
the person from whom the estate or interest is intended to pass, being of
lawful age, or by the person’s lawful agent or attorney, and acknowledged or
proved, and recorded, as directed in this chapter.
[1:9:1861; B § 228; BH § 2569; C § 2639; RL § 1017;
NCL § 1475]
NRS 111.115 Proof of execution of conveyance. The
proof of the execution of any conveyance, whereby any real property is
conveyed, or may be affected, shall be:
1. By the testimony of a subscribing
witness; or
2. When all the subscribing witnesses are
dead, or cannot be had, by evidence of the handwriting of the party, and of at
least one subscribing witness, given by a credible witness to each signature.
[10:9:1861; B § 238; BH § 2579; C § 2649; RL § 1027;
NCL § 1485]
NRS 111.120 Conditions necessary before proof by subscribing witness can be
taken. No proof by a subscribing
witness shall be taken unless the witness shall be personally known to the
person taking the proof to be the person whose name is subscribed to the
conveyance as witness thereto, or shall be proved to be such by the oath or
affirmation of a credible witness.
[11:9:1861; B § 239; BH § 2580; C § 2650; RL § 1028;
NCL § 1486]
NRS 111.125 Proof required from subscribing witnesses. No certificate of proof shall be granted
unless subscribing witnesses shall prove:
1. That the person whose name is
subscribed thereto as a party is the person described in, and who executed the
same.
2. That such person executed the
conveyance.
3. That such witness subscribed his or her
name thereto as a witness thereof.
[12:9:1861; B § 240; BH § 2581; C § 2651; RL § 1029;
NCL § 1487]
NRS 111.130 Contents of certificate of proof. The
certificate of proof shall set forth the following matters:
1. The fact that the subscribing witness
was personally known to the person granting the certificate to be the person
whose name is subscribed to such conveyance as a witness thereto, or was proved
to be such by oath or affirmation of a witness, whose name shall be inserted in
the certificate.
2. The proof given by such witness of the
execution of such conveyance, and of the fact that the person whose name is
subscribed to such conveyance as a party thereto is the person who executed the
same, and that such witness subscribed his or her name to such conveyance as a
witness thereof.
[13:9:1861; B § 241; BH § 2582; C § 2652; RL § 1030;
NCL § 1488]
NRS 111.135 When proof by evidence of handwriting may be taken. No proof by evidence of the handwriting of the
party, and of a subscribing witness, shall be taken, unless the person taking
the same shall be satisfied that all the subscribing witnesses to the
conveyance are dead, or cannot be had to prove the execution thereof.
[14:9:1861; B § 242; BH § 2583; C § 2653; RL § 1031;
NCL § 1489]
NRS 111.140 Statements of witnesses under oath before certificate granted. No certificate of any such proof shall be
granted unless:
1. A competent and credible witness shall
state, on oath or affirmation, that the witness personally knew the person
whose name is subscribed thereto as a party, well knew the person’s signature
(stating his or her means of knowledge), and believes the name of the person
subscribed thereto as a party was subscribed by such person.
2. A competent and credible witness shall,
in like manner, state that the witness personally knew the person whose name is
subscribed to such conveyance as a witness, well knew the person’s signature
(stating his or her means of knowledge), and believes the name subscribed
thereto as a witness was thereto subscribed by such person.
[15:9:1861; B § 243; BH § 2584; C § 2654; RL § 1032;
NCL § 1490]
NRS 111.145 Witnesses to conveyance may be subpoenaed. Upon the application of any grantee in any
conveyance required by this chapter to be recorded, or by any person claiming
under such grantee, verified under the oath of the applicant, that any witness
to such conveyance, residing in the county where such application is made,
refuses to appear and testify touching the execution thereof, and that such
conveyance cannot be proved without the evidence of the witness, any person
authorized to take the acknowledgment or proof of such conveyance may issue a
subpoena requiring such witness to appear before such person and testify
touching the execution thereof.
[16:9:1861; B § 244; BH § 2585; C § 2655; RL § 1033;
NCL § 1491]
NRS 111.150 Penalty for failure of witness to appear when subpoenaed.
1. Every person who, being served with a
subpoena, shall, without reasonable cause, refuse or neglect to appear, or
appearing shall refuse to answer upon oath touching the matters stated in NRS 111.145:
(a) Shall be liable to the party injured in the
sum of $100, and for such damages as may be sustained by the party injured on
account of such neglect or refusal; and
(b) May be committed to jail by the judge of some
court of record, there to remain, without bail, until the person shall submit
to answer upon oath as stated aforesaid.
2. No person shall be required to attend
who resides out of the county in which the proof is to be taken, nor unless the
person’s reasonable expenses shall have been first tendered to the person.
[17:9:1861; B § 245; BH § 2586; C § 2656; RL § 1034;
NCL § 1492]
NRS 111.155 Conveyance acknowledged or proved may be read in evidence. Every conveyance, or other instrument,
conveying or affecting real property, which shall be acknowledged, or proved
and certified, as prescribed in this chapter, may, together with the
certificate of acknowledgment, or proof, be read in evidence without further
proof.
[29:9:1861; B § 257; BH § 2598; C § 2668; RL § 1043;
NCL § 1501]
NRS 111.160 After-acquired title passes to grantee. If
any person shall convey any real property, by conveyance purporting to convey
the same in fee simple absolute, and shall not at the time of such conveyance
have the legal estate in such real property but shall afterward acquire the
same, the legal estate subsequently acquired shall immediately pass to the
grantee, and such conveyance shall be valid as if such legal estate had been in
the grantor at the time of the conveyance.
[33:9:1861; B § 261; BH § 2602; C § 2672; RL § 1047;
NCL § 1505]
NRS 111.165 Adverse possession does not prevent sale and conveyance. Any person claiming title to any real property
may, notwithstanding there may be an adverse possession thereof, sell and
convey his or her interest therein in the same manner and with the same effect
as if the person was in actual possession thereof.
[34:9:1861; B § 262; BH § 2603; C § 2673; RL § 1048;
NCL § 1506]
NRS 111.167 Presumption of conveyance with land: Water rights, permits,
certificates and applications appurtenant to land. Unless
the deed conveying land specifically provides otherwise, all:
1. Applications and permits to appropriate
any of the public waters;
2. Certificates of appropriation;
3. Adjudicated or unadjudicated water
rights; and
4. Applications or permits to change the
place of diversion, manner of use or place of use of water,
Ê which are
appurtenant to the land are presumed to be conveyed with the land.
(Added to NRS by 1995, 438)
NRS 111.170 Construction of words “grant, bargain and sell” in conveyances;
suit upon covenants.
1. The words “grant, bargain and sell” in
all conveyances made after December 2, 1861, in and by which any estate of
inheritance or fee simple is to be passed, shall, unless restrained by express
terms contained in such conveyances, be construed to be the following express
covenants, and none other, on the part of the grantor, for the grantor and the
heirs of the grantor to the grantee, the heirs of the grantee, and assigns:
(a) That previous to the time of the execution of
the conveyance the grantor has not conveyed the same real property, or any
right, title, or interest therein, to any person other than the grantee.
(b) That the real property is, at the time of the
execution of the conveyance, free from encumbrances, done, made or suffered by
the grantor, or any person claiming under the grantor.
2. Such covenants may be sued upon in the
same manner as if they had been expressly inserted in the conveyance.
[49:9:1861; B § 277; BH § 2618; C § 2688; RL § 1063;
NCL § 1521]
NRS 111.175 Conveyances made to defraud prior or subsequent purchasers are
void. Every conveyance of any
estate, or interest in lands, or the rents and profits of lands, and every
charge upon lands, or upon the rents and profits thereof, made and created with
the intent to defraud prior or subsequent purchasers for a valuable
consideration of the same lands, rents or profits, as against such purchasers,
shall be void.
[50:9:1861; B § 278; BH § 2619; C § 2689; RL § 1064;
NCL § 1522]—(NRS R 1959, 418; reenacted 1960, 324)
NRS 111.180 Bona fide purchaser: Conveyance not deemed fraudulent in favor
of bona fide purchaser unless subsequent purchaser had actual knowledge,
constructive notice or reasonable cause to know of fraud.
1. Any purchaser who purchases an estate
or interest in any real property in good faith and for valuable consideration
and who does not have actual knowledge, constructive notice of, or reasonable
cause to know that there exists a defect in, or adverse rights, title or
interest to, the real property is a bona fide purchaser.
2. No conveyance of an estate or interest
in real property, or charge upon real property, shall be deemed fraudulent in
favor of a bona fide purchaser unless it appears that the subsequent purchaser
in such conveyance, or person to be benefited by such charge, had actual
knowledge, constructive notice or reasonable cause to know of the fraud
intended.
[51:9:1861; B § 279; BH § 2620; C § 2690; RL § 1065;
NCL § 1523]—(NRS R 1959, 418; reenacted 1960, 324; A 2013, 2173)
NRS 111.185 Power of revocation at will. Every
conveyance or charge of or upon any estate or interest in lands, containing any
provision for the revocation, determination or alteration of such estate or
interest, or any part thereof, at the will of the grantor, shall be void, as
against subsequent purchasers from the grantor for a valuable consideration, of
any estate or interest, so liable to be revoked or determined, although the
same be not directly revoked, determined or altered by the grantor, by virtue
of the power reserved, or expressed in such prior conveyance or charge.
[52:9:1861; B § 280; BH § 2621; C § 2691; RL § 1066;
NCL § 1524]
NRS 111.190 Revocation and reconveyance. Where
a power to revoke a conveyance of lands, or the rents and profits thereof, and
to reconvey the same, shall be given to any person other than the grantor in
such conveyance, and such person shall thereafter convey the same lands, rents
or profits to a purchaser for a valuable consideration, such subsequent
conveyance shall be valid in the same manner, and to the same extent, as if the
power of revocation were recited therein, and the intent to revoke the former conveyance
expressly declared.
[53:9:1861; B § 281; BH § 2622; C § 2692; RL § 1067;
NCL § 1525]
NRS 111.195 Effect of conveyance made before power of revocation can be
exercised. If a conveyance to a
purchaser, under either NRS 111.185 or 111.190, shall be made before the person making the
same shall be entitled to execute his or her power of revocation, it shall,
nevertheless, be valid from the time the power of revocation shall actually
vest in such person, in the same manner, and to the same extent, as if then
made.
[54:9:1861; B § 282; BH § 2623; C § 2693; RL § 1068;
NCL § 1526]
NRS 111.200 Limitations on terms of leases.
1. No agricultural or grazing lands within
the state shall hereafter be conveyed for agricultural or grazing purposes by
lease or otherwise, except in fee and perpetual succession, for a longer period
than 25 years.
2. No other lands or real property shall
be so conveyed for a longer period than 99 years.
3. All leases hereafter made contrary to
the provisions of this chapter shall be void as to any periods of time in
excess of those enumerated in subsections 1 and 2.
[78:9:1861; A 1923, 314; 1929, 364; 1951, 237]—(NRS A
1959, 96; 1963, 60)
NRS 111.205 No estate created in land unless by operation of law or written
conveyance; leases for terms not exceeding 1 year.
1. No estate or interest in lands, other than
for leases for a term not exceeding 1 year, nor any trust or power over or
concerning lands, or in any manner relating thereto, shall be created, granted,
assigned, surrendered or declared after December 2, 1861, unless by act or
operation of law, or by deed or conveyance, in writing, subscribed by the party
creating, granting, assigning, surrendering or declaring the same, or by the
party’s lawful agent thereunto authorized in writing.
2. Subsection 1 shall not be construed to
affect in any manner the power of a testator in the disposition of the
testator’s real property by a last will and testament, nor to prevent any trust
from arising or being extinguished by implication or operation of law.
[55:9:1861; B § 283; BH § 2624; C § 2694; RL § 1069;
NCL § 1527] + [56:9:1861; B § 284; BH § 2625; C § 2695; RL § 1070; NCL § 1528]
NRS 111.210 Contracts for sale or lease of land for periods in excess of 1
year void unless in writing.
1. Every contract for the leasing for a
longer period than 1 year, or for the sale of any lands, or any interest in
lands, shall be void unless the contract, or some note or memorandum thereof,
expressing the consideration, be in writing, and be subscribed by the party by
whom the lease or sale is to be made.
2. Every instrument required to be
subscribed by any person under subsection 1 may be subscribed by the agent of
the party lawfully authorized.
[57:9:1861; B § 285; BH § 2626; C § 2696; RL § 1071;
NCL § 1529] + [58:9:1861; B § 286; BH § 2627; C § 2697; RL § 1072; NCL § 1530]
NRS 111.220 Agreements not in writing: When void. In
the following cases every agreement is void, unless the agreement, or some note
or memorandum thereof expressing the consideration, is in writing, and
subscribed by the person charged therewith:
1. Every agreement that, by the terms, is
not to be performed within 1 year from the making thereof.
2. Every special promise to answer for the
debt, default or miscarriage of another.
3. Every promise or undertaking made upon
consideration of marriage, except mutual promises to marry.
4. Every promise or commitment to loan
money or to grant or extend credit in an original principal amount of at least
$100,000 made by a person engaged in the business of lending money or extending
credit.
5. Every promise or commitment to pay a
fee for obtaining a loan of money or an extension of credit for another person
if the fee is $1,000 or more.
[61:9:1861; B § 289; BH § 2630; C § 2700; RL § 1075;
NCL § 1533]—(NRS A 1989, 285)
NRS 111.235 Grants and assignments of existing trusts to be in writing or
are void. Every grant or
assignment of any existing trust in lands, goods or things in action, unless
the same shall be in writing, subscribed by the person making the same, or by
his or her agent lawfully authorized, shall be void.
[70:9:1861; B § 298; BH § 2639; C § 2709; RL § 1084;
NCL § 1541]
VOIDABLE RESTRICTIONS AND PROHIBITIONS
NRS 111.237 Prohibition or restriction based on race, color, religion,
ancestry or national origin.
1. Every provision in a written instrument
relating to real property which purports to forbid or restrict the conveyance,
encumbrance, leasing or mortgaging of such real property to any person of a
specified race, color, religion, ancestry or national origin is voidable by the
grantee, the grantee’s successors and assigns in the manner prescribed in
subsection 3 and every restriction or prohibition as to the use or occupation
of real property because of the user’s or occupier’s race, color, religion,
ancestry or national origin is voidable by the grantee, the grantee’s
successors and assigns in the manner prescribed in subsection 3.
2. Every restriction or prohibition,
whether by way of covenant, condition upon use or occupation, or upon transfer
of title to real property, which restriction or prohibition directly or
indirectly limits the acquisition, use or occupation of such property because
of the acquirer’s, user’s or occupier’s race, color, religion, ancestry or
national origin is voidable by the grantee, the grantee’s successors and
assigns in the manner prescribed in subsection 3.
3. The owner or owners of any real
property subject to any restriction or prohibition specified in subsections 1
and 2 may record an affidavit declaring such restrictions or prohibitions to be
void in the office of the county recorder in which such real property is
located, and such recording shall operate to remove such restrictions or
prohibitions.
(Added to NRS by 1965, 763)
NRS 111.238 Prohibition on display of flag of the United States on property.
1. Except as otherwise provided in
subsection 2, any covenant, condition or restriction contained in a deed,
contract or other legal instrument which affects the transfer, sale or any
other interest in real property that prohibits the owner of the property from
engaging in the display of the flag of the United States on his or her property
is void and unenforceable.
2. The provisions of this section do not
apply to the display of the flag of the United States for commercial
advertising purposes.
3. In any action commenced to enforce the
provisions of this section, the prevailing party is entitled to recover
reasonable attorney’s fees and costs.
4. As used in this section, “display of
the flag of the United States” means a flag of the United States that is:
(a) Made of cloth, fabric or paper;
(b) Displayed from a pole or staff or in a
window; and
(c) Displayed in a manner that is consistent with
4 U.S.C. chapter 1.
Ê The term
does not include a depiction or emblem of the flag of the United States that is
made of balloons, flora, lights, paint, paving materials, roofing, siding or
any other similar building, decorative or landscaping component.
(Added to NRS by 2003, 2966)
NRS 111.239 Prohibition or restriction on use of system for obtaining solar
energy on property.
1. Any covenant, restriction or condition
contained in a deed, contract or other legal instrument which affects the
transfer or sale of, or any other interest in, real property and which
prohibits or unreasonably restricts or has the effect of prohibiting or
unreasonably restricting the owner of the property from using a system for
obtaining solar energy on his or her property is void and unenforceable.
2. For the purposes of this section, the
following shall be deemed to be unreasonable restrictions:
(a) The placing of a restriction or requirement
on the use of a system for obtaining solar energy which decreases the
efficiency or performance of the system by more than 10 percent of the amount
that was originally specified for the system, as determined by the Director of
the Office of Energy, and which does not allow for the use of an alternative
system at a substantially comparable cost and with substantially comparable
efficiency and performance.
(b) The prohibition of a system for obtaining
solar energy that uses components painted with black solar glazing.
(Added to NRS by 1995, 1105; A 2005, 1819; 2009, 1598)
NRS 111.2395 Prohibition or restriction on use of system for obtaining wind
energy on property; exceptions.
1. Except as otherwise provided in
subsection 2, any covenant, restriction or condition contained in a deed,
contract or other legal instrument which affects the transfer or sale of, or
any other interest in, real property and which prohibits or unreasonably
restricts the owner of the property from using a system for obtaining wind
energy on his or her property is void and unenforceable.
2. The provisions of subsection 1 do not
prohibit a reasonable restriction or requirement:
(a) Imposed pursuant to a determination by the
Federal Aviation Administration that the installation of the system for
obtaining wind energy would create a hazard to air navigation; or
(b) Relating to the height, noise or safety of a
system for obtaining wind energy.
3. For the purposes of this section,
“unreasonably restricts the owner of the property from using a system for
obtaining wind energy” includes the placing of a restriction or requirement on
the use of a system for obtaining wind energy which significantly decreases the
efficiency or performance of the system and which does not allow for the use of
an alternative system at a substantially comparable cost and with substantially
comparable efficiency and performance.
(Added to NRS by 2009, 1597)
ACKNOWLEDGMENT OF INSTRUMENTS
NRS 111.240 Acknowledgment of conveyances. Every
conveyance in writing whereby any real property is conveyed or may be affected
must be acknowledged or proved and certified in the manner provided in this
chapter and in NRS 240.161 to 240.169, inclusive.
[3:9:1861; B § 230; BH § 2571; C § 2641; RL § 1019;
NCL § 1477]—(NRS A 1993, 204)
NRS 111.265 Persons authorized to take acknowledgment or proof within State. The proof or acknowledgment of every
conveyance affecting any real property, if acknowledged or proved within this
State, must be taken by one of the following persons:
1. A judge or a clerk of a court having a
seal.
2. A notary public.
3. A justice of the peace.
[Part 4:9:1861; A 1867, 103; B § 231; BH § 2572; C §
2642; RL § 1020; NCL § 1478]—(NRS A 1985, 1209; 1987, 123)
RECORDING
NRS 111.310 Instruments entitled to recordation; patents need not be
acknowledged.
1. Except as otherwise provided in NRS 111.312, a certificate of the acknowledgment of
any conveyance or other instrument in any way affecting the title to real or
personal property, or the proof of the execution thereof, as provided in this
chapter, signed by the person taking the same, and under the seal or stamp of
that person, if the person is required by law to have a seal or stamp, entitles
the conveyance or instrument, with the certificate or certificates, to be
recorded in the office of the recorder of any county in this state.
2. Any state or United States contract or
patent for land may be recorded without any acknowledgment or proof.
[18:9:1861; A 1909, 270; RL § 1035; NCL § 1493]—(NRS
A 1969, 491; 1989,
1645)
NRS 111.312 Requirements for recording certain documents relating to real
property.
1. The county recorder shall not record
with respect to real property, a notice of completion, a declaration of
homestead, a lien or notice of lien, an affidavit of death, a mortgage or deed
of trust, or any conveyance of real property or instrument in writing setting
forth an agreement to convey real property unless the document being recorded
contains:
(a) The mailing address of the grantee or, if
there is no grantee, the mailing address of the person who is requesting the
recording of the document; and
(b) Except as otherwise provided in subsection 2,
the assessor’s parcel number of the property at the top left corner of the
first page of the document, if the county assessor has assigned a parcel number
to the property. The parcel number must comply with the current system for
numbering parcels used by the county assessor’s office. The county recorder is
not required to verify that the assessor’s parcel number is correct.
2. Any document relating exclusively to
the transfer of water rights may be recorded without containing the assessor’s
parcel number of the property.
3. The county recorder shall not record
with respect to real property any deed, including, without limitation:
(a) A grant, bargain or deed of sale;
(b) Quitclaim deed;
(c) Warranty deed; or
(d) Trustee’s deed upon sale,
Ê unless the
document being recorded contains the name and address of the person to whom a
statement of the taxes assessed on the real property is to be mailed.
4. The assessor’s parcel number shall not
be deemed to be a complete legal description of the real property conveyed.
5. Except as otherwise provided in
subsection 6, if a document that is being recorded includes a legal description
of real property that is provided in metes and bounds, the document must
include the name and mailing address of the person who prepared the legal
description. The county recorder is not required to verify the accuracy of the
name and mailing address of such a person.
6. If a document including the same legal
description described in subsection 5 previously has been recorded, the
document must include all information necessary to identify and locate the
previous recording, but the name and mailing address of the person who prepared
the legal description is not required for the document to be recorded. The
county recorder is not required to verify the accuracy of the information
concerning the previous recording.
(Added to NRS by 1989, 1645; A 1999, 885; 2001, 478, 1558, 1754; 2003, 53, 55, 2781, 3190)
NRS 111.315 Recording of conveyances and instruments: Notice to third
persons. Every conveyance of real
property, and every instrument of writing setting forth an agreement to convey
any real property, or whereby any real property may be affected, proved, acknowledged
and certified in the manner prescribed in this chapter, to operate as notice to
third persons, shall be recorded in the office of the recorder of the county in
which the real property is situated or to the extent permitted by NRS 105.010 to 105.080, inclusive, in the Office of the
Secretary of State, but shall be valid and binding between the parties thereto
without such record.
[24:9:1861; B § 252; BH § 2593; C § 2663; RL § 1038;
NCL § 1496]—(NRS A 1995, 891)
NRS 111.320 Filing of conveyances or other instruments is notice to all
persons: Effect on subsequent purchasers and mortgagees. Every such conveyance or instrument of
writing, acknowledged or proved and certified, and recorded in the manner
prescribed in this chapter or in NRS
105.010 to 105.080, inclusive, must
from the time of filing the same with the Secretary of State or recorder for
record, impart notice to all persons of the contents thereof; and subsequent
purchasers and mortgagees shall be deemed to purchase and take with notice.
[25:9:1861; B § 253; BH § 2594; C § 2664; RL § 1039;
NCL § 1497]—(NRS A 1995, 891)
NRS 111.325 Unrecorded conveyances void as against subsequent bona fide
purchaser for value when conveyance recorded. Every
conveyance of real property within this State hereafter made, which shall not
be recorded as provided in this chapter, shall be void as against any
subsequent purchaser, in good faith and for a valuable consideration, of the
same real property, or any portion thereof, where his or her own conveyance
shall be first duly recorded.
[26:9:1861; A 1935, 34; 1931 NCL § 1498]
NRS 111.340 Certificate of acknowledgment and record may be rebutted. Neither the certificate of the acknowledgment
nor of the proof of any conveyance or instrument, nor the record, nor the
transcript of the record, of such conveyance or instrument, shall be
conclusive, but the same may be rebutted.
[31:9:1861; B § 259; BH § 2600; C § 2670; RL § 1045;
NCL § 1503]
NRS 111.345 Proof taken upon oath of incompetent witness: Instrument not
admissible until established by competent proof. If
the party contesting the proof of any conveyance or instrument shall make it
appear that any such proof was taken upon the oath of an incompetent witness,
neither such conveyance or instrument, nor the record thereof, shall be
received in evidence, until established by other competent proof.
[32:9:1861; B § 260; BH § 2601; C § 2671; RL § 1046;
NCL § 1504]
NRS 111.347 Recording defective instrument: Notice to subsequent purchasers;
admissibility in evidence. Any
instrument affecting the title to real property, 3 years after the instrument
has been copied into the proper book of record kept in the office of any county
recorder, imparts notice of its contents to subsequent purchasers and
encumbrancers, notwithstanding any defect, omission or informality in the
execution of the instrument, or in the certificate of acknowledgment thereof,
or the absence of any such certificate; but nothing herein affects the rights
of purchasers or encumbrancers previous to March 27, 1935. When such copying in
the proper book of record occurred within 5 years prior to the trial of an
action, the instrument is not admissible in evidence unless it is first shown
that the original instrument was genuine.
(Added to NRS by 1971, 803)
NRS 111.350 Conveyances or other instruments recorded before December 17,
1862: Notice to subsequent purchasers; certified copies as evidence.
1. All instruments of writing copied into
the proper books of record of the offices of the county recorders of the
several counties of the Territory of Nevada prior to December 17, 1862, shall,
after December 17, 1862, be deemed to impart to subsequent purchasers and
encumbrancers, and all other persons whomsoever, notice of all deeds,
mortgages, powers of attorney, contracts, conveyances or other instruments,
notwithstanding any defect, omission or informality existing in the execution,
acknowledgment or certificate of recording the same.
2. Nothing contained in this section shall
be construed to affect any rights acquired prior to December 17, 1862, in the
hands of subsequent grantees or assignees.
3. Certified copies of such instruments as
are embraced in subsection 1 may be read in evidence under the same
circumstances and rules as are now or may hereafter be provided by law for
using copies of instruments duly executed and recorded. Proof shall be first
made that the instruments, copies of which it is proposed to use, were genuine
instruments and were in truth executed by the grantor or grantors therein
named.
[1:32:1862; B § 311; BH § 2648; C § 2718; RL § 1093;
NCL § 1551] + [2:32:1862; B § 312; BH § 2649; C § 2719; RL § 1094; NCL § 1552]
NRS 111.353 Recording of master form mortgages and deeds of trust;
incorporation of provisions by reference in subsequently recorded instruments. A mortgage or deed of trust of real property
may be recorded and be constructive notice of such mortgage or deed of trust
and the contents thereof in the following manner:
1. Any person may record in the office of
the county recorder of any county master form mortgages and deeds of trust of
real property, which:
(a) Need not be acknowledged or proved or
certified to be recorded or entitled to record.
(b) Shall have noted upon the face thereof that
they are master forms.
(c) Shall be indexed and recorded by the county
recorder in the same manner as other mortgages and deeds of trust are recorded,
and the county recorder shall note on all indexes and records of such documents
that they are master forms.
2. Thereafter, any of the provisions of
any such recorded master form mortgage or deed of trust may be included for any
and all purposes in any mortgage or deed of trust by reference therein to any
such provisions, without setting them forth in full, if such master form
mortgage or deed of trust is of record in the county in which the mortgage or
deed of trust adopting or including by reference any of the provisions of such
master form mortgage or deed of trust is recorded.
3. Such reference shall contain a
statement as to the following:
(a) Each county in which the mortgage or deed of
trust containing such a reference is recorded;
(b) The date such master form mortgage or deed of
trust was recorded;
(c) The county recorder’s office where the master
form mortgage or deed of trust is recorded, and the book or volume and the
first page of the records in the recorder’s office wherein and at which any
such master form mortgage or deed of trust was recorded; and
(d) By paragraph numbers or any other method that
will definitely identify such provisions, the specific provisions of any such
master form mortgage or deed of trust that are being so adopted and included
therein.
4. The recording of any such mortgage or
deed of trust which has included therein any such provisions by reference as
provided in this section shall operate as constructive notice of the whole of
such mortgage or deed of trust, including the terms, as a part of the written
contents of any such mortgage or deed of trust, of any such provisions so
included by reference as though such provisions were written in full therein.
5. The parties bound or to be bound by
provisions so adopted and included by reference shall be bound thereby in the
same manner and with like effect for all purposes as though such provisions had
been and were set forth in full in any such mortgage or deed of trust.
(Added to NRS by 1967, 766)
NRS 111.355 Recordation of only part of instrument under certain conditions. A document or paper may be presented for the
recordation of only a part of its contents if:
1. The part to be recorded is a mortgage or
deed of trust, entitled to recordation, which refers to and incorporates:
(a) Provisions of a master form mortgage or deed
of trust as authorized by NRS 111.353; or
(b) Provisions of some other instrument
previously recorded in the office of any county recorder; and
2. The part not to be recorded is
separated from the part to be recorded and clearly marked “do not record” or
“not to be recorded” or the like.
Ê The county
recorder shall record only the mortgage or deed of trust set forth on such
document or paper.
(Added to NRS by 1967, 767)
NRS 111.365 Recording affidavit of death of joint tenant or spouse holding
community property with right of survivorship creates disputable presumption
title vested in survivor; county recorder to send information contained in
affidavits monthly to Department of Health and Human Services.
1. In the case of real property owned by
two or more persons as joint tenants or as community property with right of
survivorship, it is presumed that all title or interest in and to that real
property of each of one or more deceased joint tenants or the deceased spouse
has terminated, and vested solely in the surviving joint tenant or spouse or
vested jointly in the surviving joint tenants, if there has been recorded in
the office of the recorder of the county or counties in which the real property
is situate an affidavit, subscribed and sworn to by a person who has knowledge
of the facts required in this subsection, which sets forth the following:
(a) The family relationship, if any, of the
affiant to each deceased joint tenant or the deceased spouse;
(b) A description of the instrument or conveyance
by which the joint tenancy or right of survivorship was created;
(c) A description of the property subject to the
joint tenancy or right of survivorship; and
(d) The date and place of death of each deceased
joint tenant or the deceased spouse.
2. Each month, a county recorder shall
send all the information contained in each affidavit received by the county
recorder pursuant to subsection 1 during the immediately preceding month to the
Department of Health and Human Services in any format and by any medium
approved by the Department.
(Added to NRS by 1971, 803; A 1983, 667; 1991, 461; 1995, 2571; 1999, 885; 2003, 878)
ELECTRONIC RECORDING OF REAL PROPERTY (UNIFORM ACT)
NRS 111.366 Short title. NRS 111.366 to 111.3697,
inclusive, may be cited as the Uniform Real Property Electronic Recording Act.
(Added to NRS by 2007, 137)
NRS 111.3663 Definitions. As
used in NRS 111.366 to 111.3697,
inclusive, unless the context otherwise requires, the words and terms defined
in NRS 111.3667 to 111.368,
inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2007, 137)
NRS 111.3667 “Document” defined. “Document”
means information that is:
1. Inscribed on a tangible medium or that
is stored in an electronic or other medium and is retrievable in perceivable
form; and
2. Eligible to be recorded in the records
maintained by the county recorder.
(Added to NRS by 2007, 137)
NRS 111.367 “Electronic” defined. “Electronic”
means relating to technology having electrical, digital, magnetic, wireless,
optical, electromagnetic or similar capabilities.
(Added to NRS by 2007, 138)
NRS 111.3673 “Electronic document” defined. “Electronic
document” means a document that is received by the county recorder in an
electronic form.
(Added to NRS by 2007, 138)
NRS 111.3675 “Electronic signature” defined. “Electronic
signature” means an electronic sound, symbol or process attached to or
logically associated with a document and executed or adopted by a person with
the intent to sign the document.
(Added to NRS by 2007, 138)
NRS 111.3677 “Person” defined. “Person”
means a natural person, corporation, business trust, estate, trust,
partnership, limited-liability company, association, joint venture, public
corporation, government or governmental subdivision, agency or instrumentality
or any other legal or commercial entity.
(Added to NRS by 2007, 138)
NRS 111.368 “State” defined. “State”
means a state of the United States, the District of Columbia, Puerto Rico, the
United States Virgin Islands or any territory or insular possession subject to
the jurisdiction of the United States.
(Added to NRS by 2007, 138)
NRS 111.3683 Applicability. NRS 111.366 to 111.3697,
inclusive, allow a person to submit an electronic document for recording with a
county recorder only if the county recorder has elected to accept electronic
documents for recording in accordance with the provisions of NRS 111.366 to 111.3697,
inclusive.
(Added to NRS by 2007, 138)
NRS 111.3685 Validity of electronic documents.
1. If a law requires, as a condition for
recording, that a document be an original, be on paper or another tangible
medium, or be in writing, the requirement is satisfied by an electronic
document satisfying the provisions of NRS 111.366
to 111.3697, inclusive.
2. If a law requires, as a condition for
recording, that a document be signed, the requirement is satisfied by an
electronic signature.
3. A requirement that a document or a
signature associated with a document be notarized, acknowledged, verified,
witnessed or made under oath is satisfied if the electronic signature of the
person authorized to perform that act, and all other information required to be
included, is attached to or logically associated with the document or
signature. A physical or electronic image of a stamp, impression or seal need
not accompany an electronic signature.
(Added to NRS by 2007, 138)
NRS 111.3687 Recording of documents.
1. A county recorder:
(a) Who implements any of the functions listed in
this section shall do so in compliance with standards established by the
Secretary of State.
(b) May receive, index, store, archive and transmit
electronic documents.
(c) May provide for access to, and for search and
retrieval of, documents and information by electronic means.
(d) Who accepts electronic documents for
recording shall continue to accept paper documents as authorized by state law
and shall place entries for both types of documents in the same index.
(e) May convert paper documents accepted for
recording into electronic form.
(f) May convert into electronic form information
recorded before the county recorder began to record electronic documents.
(g) May accept electronically any fee or tax that
the county recorder is authorized to collect.
(h) May agree with other officials of a state or
a political subdivision thereof, or of the United States, on procedures or
processes to facilitate the electronic satisfaction of prior approvals and
conditions precedent to recording and the electronic payment of fees and taxes.
2. As used in this section, “paper
document” means a document that is received by the county recorder in a form that
is not electronic.
(Added to NRS by 2007, 138)
NRS 111.369 Administration and standards.
1. The Secretary of State shall adopt by
regulation standards to implement the provisions of NRS
111.366 to 111.3697, inclusive.
2. To keep the standards and practices of
county recorders in this State in harmony with the standards and practices of
recording offices in other jurisdictions that enact substantially the Uniform
Real Property Electronic Recording Act and to keep the technology used by
county recorders in this State compatible with technology used by recording
offices in other jurisdictions that enact substantially the Uniform Real
Property Electronic Recording Act, the Secretary of State, so far as is
consistent with the purposes, policies and provisions of NRS
111.366 to 111.3697, inclusive, shall consider
in adopting, amending and repealing the standards required by this section:
(a) Standards and practices of other
jurisdictions;
(b) The most recent standards promulgated by
national standard-setting bodies, such as the Property Records Industry
Association;
(c) The views of interested persons and
governmental officials and entities;
(d) The needs of counties of varying size,
population and resources; and
(e) Standards requiring adequate information
security protection to ensure that electronic documents are accurate,
authentic, adequately preserved and resistant to tampering.
(Added to NRS by 2007, 139)
NRS 111.3693 Uniformity of application and construction. In applying and construing the Uniform Real
Property Electronic Recording Act, consideration must be given to the need to
promote uniformity of the law with respect to its subject matter among states
that enact it.
(Added to NRS by 2007, 139)
NRS 111.3697 Relation to Electronic Signatures in Global and National
Commerce Act. NRS 111.366 to 111.3697,
inclusive, modify, limit and supersede the federal Electronic Signatures in
Global and National Commerce Act, 15 U.S.C. §§ 7001 et seq., but do not modify,
limit or supersede Section 101(c) of that Act, 15 U.S.C. § 7001(c), or
authorize electronic delivery of any of the notices described in Section 103(b)
of that Act, 15 U.S.C. § 7003(b).
(Added to NRS by 2007, 139)
EASEMENT FOR COLLECTION OF SOLAR ENERGY
NRS 111.370 Creation of easement by grant; signing, recording and contents
of instrument creating easement.
1. An easement for collection of solar
energy may be created by a grant from the owner of neighboring land to the
owner of land on which equipment for the collection of solar energy has been or
is planned to be installed.
2. The easement is an interest in real
property.
3. The grant must be expressed in a
written instrument, signed by the grantor. When acknowledged, the instrument
must be recorded by the county recorder in the county where the burdened and
benefited lands are situated.
4. The instrument must include a
description of:
(a) The burdened and benefited lands.
(b) The location, size and periods of operation
of the equipment to be used in collecting the solar energy.
(c) The open area to be preserved for passage of
direct solar radiation across the burdened land to the collecting equipment, by
dimensions or bearings from the collecting equipment or by a statement that no
obstructions which cast a shadow on the equipment during its periods of
operation are allowed on the burdened land.
(Added to NRS by 1979, 469)
NRS 111.375 Vesting of easement; effect of transfer of land.
1. An easement for the collection of solar
energy becomes vested in a grantee upon the recording of the grant.
2. The easement is appurtenant to the
benefited land. The benefit of the easement passes with the benefited land and
the burden of the easement passes with the burdened land upon any transfer,
voluntary or involuntary, of the respective lands.
(Added to NRS by 1979, 470)
NRS 111.380 Termination, modification or extinguishment of easement. An easement for the collection of solar
energy:
1. Terminates upon the expiration of a
period of limitation specified in the grant creating the easement.
2. Terminates upon recording of a release
of the easement by the owner of the benefited land.
3. May be modified or extinguished by an
order of a court based upon principles of equity, changes in conditions or
abandonment.
(Added to NRS by 1979, 470)
EASEMENTS FOR CONSERVATION
NRS 111.390 General purpose. The
general purpose of NRS 111.390 to 111.440, inclusive, is to make uniform the law of
those states which enact the Uniform Conservation Easement Act or provisions
substantially similar to that act.
(Added to NRS by 1983, 687)
NRS 111.400 Scope.
1. NRS 111.390
to 111.440, inclusive, apply to any interest in
real property created:
(a) On or after July 1, 1983, which complies with
those sections, whether designated as an easement for conservation or as a
covenant, equitable servitude, restriction, easement or otherwise; or
(b) Before July 1, 1983, if the interest would
have been enforceable had it been created after July 1, 1983, except that the
interest is not enforceable against a bona fide purchaser of the real property
for value or the holder of an encumbrance on real property if:
(1) The purchase or encumbrance of the
real property was made after the easement for conservation was created but
before July 1, 1983; and
(2) The easement for conservation was not
enforceable at the time of the purchase or encumbrance of the real property
under other law of this State.
2. Those sections do not invalidate any
interest in real property whether designated as an easement for conservation or
preservation or as a covenant, equitable servitude, restriction, easement or
otherwise, which is enforceable under other law of this State.
(Added to NRS by 1983, 687)
NRS 111.410 Definitions. As
used in NRS 111.390 to 111.440,
inclusive, unless the context otherwise requires:
1. “Easement for conservation” means a
nonpossessory interest of a holder in real property, which imposes limitations
or affirmative obligations and:
(a) Retains or protects natural, scenic or
open-space values of real property;
(b) Assures the availability of real property for
agricultural, forest, recreational or open-space use;
(c) Protects natural resources;
(d) Maintains or enhances the quality of air or
water; or
(e) Preserves the historical, architectural,
archeological, paleontological or cultural aspects of real property.
2. “Holder” means:
(a) A governmental body empowered to hold an
interest in real property; or
(b) A charitable corporation, charitable
association or charitable trust which has among its powers or purposes to:
(1) Retain or protect the natural, scenic
or open-space values of real property;
(2) Assure the availability of real
property for agricultural, forest, recreational or open-space use;
(3) Protect natural resources;
(4) Maintain or enhance the quality of air
or water; or
(5) Preserve the historical,
architectural, archeological, paleontological or cultural aspects of real
property.
3. “Right of enforcement by a third
person” means a right provided in an easement for conservation to enforce any
of the easement’s terms granted to a governmental body, charitable corporation,
charitable association or charitable trust who is not a holder of the easement
although qualified to be one.
(Added to NRS by 1983, 687; A 2009, 375)
NRS 111.420 Creation; recording; duration; effect on existing interest in
real property.
1. Except as otherwise provided in NRS 111.390 to 111.440,
inclusive, an easement for conservation may be created, conveyed, recorded,
assigned, released, modified, terminated or otherwise altered or affected in
the same manner as other easements.
2. No right or duty in favor of or against
a holder and no right of enforcement in favor of a third person arises under an
easement for conservation before it is accepted by the holder and the
acceptance is recorded.
3. An easement for conservation is
unlimited in duration unless:
(a) The instrument creating it otherwise
provides; or
(b) A court orders that the easement be
terminated or modified, according to subsection 2 of NRS
111.430.
4. An interest in real property existing
at the time the easement for conservation is created is not impaired by the
easement unless the owner of the interest is a party to the easement or
consents to it.
(Added to NRS by 1983, 688)
NRS 111.430 Actions affecting easements for conservation.
1. An action affecting an easement for
conservation may be brought by:
(a) An owner of an interest in the real property
burdened by the easement;
(b) A holder of the easement;
(c) A third person with a right of enforcement;
or
(d) A person authorized by other law.
2. NRS 111.390
to 111.440, inclusive, do not affect the power of a
court to modify or terminate an easement for conservation in accordance with
the principles of law and equity.
(Added to NRS by 1983, 688)
NRS 111.440 Validity. An
easement for conservation is valid even though:
1. It is not appurtenant to an interest in
real property;
2. It can be or has been assigned to
another holder;
3. It is not of a character that has been
recognized traditionally at common law;
4. It imposes a negative burden;
5. It imposes affirmative obligations upon
the owner of an interest in the burdened property or upon the holder;
6. The benefit does not touch or concern
real property; or
7. There is no privity of estate or of
contract.
(Added to NRS by 1983, 689)
REAL PROPERTY TRANSFER ON DEATH (UNIFORM ACT)
NRS 111.655 Short title. NRS 111.655 to 111.699,
inclusive, may be cited as the Uniform Real Property Transfer on Death Act.
(Added to NRS by 2011, 1348)
NRS 111.657 Definitions. As
used in NRS 111.655 to 111.699,
inclusive, unless the context otherwise requires, the words and terms defined
in NRS 111.659 to 111.669,
inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2011, 1348)
NRS 111.659 “Beneficiary” defined. “Beneficiary”
means a person that receives property under a deed upon death.
(Added to NRS by 2011, 1348)
NRS 111.661 “Deed upon death” defined. “Deed
upon death” means a deed authorized under NRS 111.655
to 111.699, inclusive.
(Added to NRS by 2011, 1348)
NRS 111.663 “Designated beneficiary” defined. “Designated
beneficiary” means a person designated to receive property in a deed upon
death.
(Added to NRS by 2011, 1348)
NRS 111.665 “Grantor” defined. “Grantor”
means an individual who makes a deed upon death.
(Added to NRS by 2011, 1348)
NRS 111.667 “Person” defined. “Person”
means an individual, corporation, business trust, estate, trust, partnership,
limited-liability company, association, joint venture, public corporation,
government or governmental subdivision, agency or instrumentality, or any other
legal or commercial entity.
(Added to NRS by 2011, 1348)
NRS 111.669 “Property” defined. “Property”
means an interest in real property located in this State which is transferable
on the death of the owner.
(Added to NRS by 2011, 1348)
NRS 111.671 Creation of deed upon death. The
owner of an interest in property may create a deed which conveys his or her
interest in property to a beneficiary or multiple beneficiaries and which
becomes effective upon the death of the owner. A deed created pursuant to this
section must be known as a deed upon death.
(Added to NRS by 2011, 1348)
NRS 111.673 Designation of beneficiary. The
owner of an interest in property who creates a deed upon death may designate in
the deed:
1. Multiple beneficiaries who will take
title to the property upon his or her death as joint tenants with right of survivorship,
tenants in common, husband and wife as community property, community property
with right of survivorship or any other tenancy that is recognized in this
State.
2. The beneficiary or beneficiaries who
will take title to the property upon his or her death as the sole and separate
property of the beneficiary or beneficiaries without the necessity of the
filing of a quitclaim deed or disclaimer by the spouse of any beneficiary.
(Added to NRS by 2011, 1348)
NRS 111.675 Requirements for property held as joint tenancy or community
property with right of survivorship. If
the owner of the property which is the subject of a deed upon death holds the
interest in the property as a joint tenant with right of survivorship or as
community property with the right of survivorship and:
1. The deed includes a conveyance of the
interest from each of the other owners, the deed becomes effective on the date
of the death of the last surviving owner.
2. The deed does not include a conveyance
of the interest from each of the other owners, the deed becomes effective on
the date of the death of the owner who created the deed only if that owner is
the last surviving owner.
(Added to NRS by 2011, 1349)
NRS 111.677 Void if interest in property transferred before death; last
recorded deed upon death is effective.
1. If an owner of an interest in property
who creates a deed upon death transfers his or her interest in the property to
another person during his or her lifetime, the deed upon death is void.
2. If an owner of an interest in property
who creates a deed upon death executes and records more than one deed upon
death concerning the same property, the deed upon death that is last recorded
before the death of the owner is the effective deed.
(Added to NRS by 2011, 1349)
NRS 111.679 Capacity to make or revoke. The
capacity required to make or revoke a deed upon death is the same as the
capacity required to make a will.
(Added to NRS by 2011, 1349)
NRS 111.681 Execution and recordation. A
deed upon death is valid only if executed and recorded as provided by law in
the office of the county recorder of the county where the property is located
before the death of the owner or the death of the last surviving owner.
(Added to NRS by 2011, 1349)
NRS 111.683 Effective without notice or consideration. A deed upon death is effective without:
1. Notice or delivery to or acceptance by
the beneficiary or beneficiaries; or
2. Consideration.
(Added to NRS by 2011, 1349)
NRS 111.685 Effect of deed upon death during owner’s lifetime. During the owner’s lifetime, a deed upon death
does not:
1. Affect an interest or right of the
owner, including, without limitation, the right to transfer or encumber the
property;
2. Affect any method of transferring
property otherwise permitted under the laws of this State;
3. Affect an interest or right of a
designated beneficiary, even if the designated beneficiary has actual or
constructive notice of the deed;
4. Affect an interest or right of a
secured or unsecured creditor or future creditor of the owner, even if the
creditor has actual or constructive notice of the deed;
5. Affect the owner’s or the designated
beneficiary’s eligibility for any form of public assistance;
6. Create a legal or equitable interest in
favor of the designated beneficiary; or
7. Subject the property to claims or
process of a creditor of the designated beneficiary.
(Added to NRS by 2011, 1349)
NRS 111.687 Disclaimer by beneficiary. A
beneficiary may disclaim all or part of the beneficiary’s interest under a deed
upon death by recording a disclaimer in the office of the county recorder of
the county in which the property is located, as provided by chapter 120 of NRS.
(Added to NRS by 2011, 1349)
NRS 111.689 Enforcement of liabilities against property transferred pursuant
to deed upon death.
1. To the extent the grantor’s probate
estate is insufficient to satisfy an allowed claim against the estate or a
statutory allowance to a surviving spouse or child, the estate may enforce the
liability against property transferred pursuant to a deed upon death.
2. If more than one property is
transferred pursuant to one or more deeds upon death, the liability for any
claim must be apportioned among the properties in proportion to their net
values at the grantor’s death.
3. A proceeding to enforce the liability
under this section must be commenced not later than 18 months after the
grantor’s death.
(Added to NRS by 2011, 1349)
NRS 111.691 Property transferred by deed upon death subject to prior lien. A beneficiary or beneficiaries under a deed
upon death inherit the property subject to any liens on the property in
existence on the date of the death of the grantor.
(Added to NRS by 2011, 1350)
NRS 111.693 Limitations concerning Medicaid payments. The provisions of NRS
111.655 to 111.699, inclusive, must not be
construed to limit the recovery of benefits paid for Medicaid.
(Added to NRS by 2011, 1350)
NRS 111.695 Form of deed upon death. A
deed upon death must be in substantially the following form:
DEED
UPON DEATH
I (We)................... (here
insert name of owner(s)) hereby convey to................... (here insert name
of beneficiary or beneficiaries), effective on my (our) death, all right, title
and interest in the real property commonly known as..................., City
of..................., County of..................., State of Nevada, or
located in the County of..................., State of Nevada, and more particularly
described as:
(Legal
Description)
Together with all improvements,
tenements, hereditaments and appurtenances, including easements and water
rights, if any, thereto belonging or appertaining, and any reversions,
remainders, rents, issues or profits thereof.
THIS DEED IS REVOCABLE. THIS DEED
DOES NOT TRANSFER ANY OWNERSHIP UNTIL THE DEATH OF THE GRANTOR(S). THIS DEED
REVOKES ALL PRIOR DEEDS BY THE GRANTOR(S) WHICH CONVEY THE SAME REAL PROPERTY
PURSUANT TO NRS 111.655 TO 111.699, INCLUSIVE,
REGARDLESS OF WHETHER THE PRIOR DEEDS FAILED TO CONVEY THE ENTIRE INTEREST OF
THE GRANTOR(S) IN THE SAME REAL PROPERTY.
THE UNDERSIGNED HEREBY AFFIRMS THAT
THIS DOCUMENT SUBMITTED FOR RECORDING DOES NOT CONTAIN A SOCIAL SECURITY
NUMBER.
............................................ (Date)
............................................ (Signature)
State of Nevada }
} ss.
County of................................ }
Subscribed and sworn to on this
.......... day of .............., in the year .........., before me,
................... (here insert name of notary public), by ...................
(here insert name of principal).
On this .......... day of
.............., in the year .........., before me, ................... (here
insert name of notary public), personally appeared ................... (here
insert name of principal) personally known to me (or proved to me on the basis
of satisfactory evidence) to be the person whose name is subscribed to this
instrument, and acknowledged that he or she executed it.
............................................ (Signature
of Notary Public)
NOTARY SEAL
(Added to NRS by 2011, 1350)
NRS 111.697 Form of revocation of deed upon death. A
deed upon death may be revoked at any time by the owner or, if there is more
than one owner, by any of the owners who created the deed even if the deed or
other instrument contains a contrary provision. The revocation is valid only if
executed and recorded as provided by law in the office of the county recorder
of the county in which the property is located before the death of the owner
who executes the revocation. A deed upon death may not be revoked by a
revocatory act on the deed. If the property is held as joint tenants with right
of survivorship or as community property with the right of survivorship and the
revocation is not executed by all the owners, the revocation does not become
effective unless the revocation is executed and recorded by the last surviving
owner. The revocation of deed must be in substantially the following form:
REVOCATION
OF DEED UPON DEATH
The undersigned hereby revoke(s) the
deed upon death recorded on................... (date), as document or file
number.........., book.........., at page.........., records of...................
County, Nevada, listing................... as beneficiary or beneficiaries.
THE UNDERSIGNED HEREBY AFFIRMS THAT
THIS DOCUMENT SUBMITTED FOR RECORDING DOES NOT CONTAIN A SOCIAL SECURITY
NUMBER.
............................................ (Date)
............................................ (Signature)
State of Nevada }
} ss.
County of................................ }
Subscribed and sworn to on this
.......... day of .............., in the year .........., before me,
................... (here insert name of notary public), by ...................
(here insert name of principal).
On this .......... day of ..............,
in the year .........., before me, ................... (here insert name of
notary public), personally appeared ................... (here insert name of
principal) personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person whose name is subscribed to this instrument, and
acknowledged that he or she executed it.
............................................ (Signature
of Notary Public)
NOTARY SEAL
(Added to NRS by 2011, 1351)
NRS 111.699 Form of Death of Grantor Affidavit; required documents upon
death of grantor. Upon the death
of the last grantor of a deed upon death, a declaration of value of property
pursuant to NRS 375.060 and a copy of
the death certificate of each grantor must be attached to a Death of Grantor
Affidavit and recorded in the office of the county recorder where the deed was
recorded. The Death of Grantor Affidavit must be in substantially the following
form:
DEATH
OF GRANTOR AFFIDAVIT
................... (here insert
name of affiant), being duly sworn, deposes and says that...................
(here insert name of deceased), the decedent mentioned in the attached
certified copy of the Certificate of Death, is the same person
as................... (here insert name of grantor), named as the grantor or as
one of the grantors in the deed upon death recorded on................... (date),
as document or file number.........., book.........., at page..........,
records of................... County, Nevada, covering the real property
commonly known as..................., City of..................., County
of..................., State of Nevada, or located in the County
of..................., State of Nevada, and more particularly described as:
(Legal
Description)
................... (here insert
name of affiant) is the beneficiary or at least one of the beneficiaries to
whom the real property is conveyed upon the death of the
grantor................... (here insert name of deceased) or is the authorized
representative of the beneficiary or at least one of the beneficiaries. The
beneficiary or beneficiaries listed in the deed upon death are....................
THE UNDERSIGNED HEREBY AFFIRMS THAT
THIS DOCUMENT SUBMITTED FOR RECORDING CONTAINS A SOCIAL SECURITY NUMBER OF A
PERSON OR PERSONS.
............................................ (Date)
............................................ (Signature)
State of Nevada }
} ss.
County of................................ }
Subscribed and sworn to on this
.......... day of .............., in the year .........., before me,
................... (here insert name of notary public), by ...................
(here insert name of principal).
On this .......... day of
.............., in the year .........., before me, ................... (here
insert name of notary public), personally appeared ................... (here
insert name of principal) personally known to me (or proved to me on the basis
of satisfactory evidence) to be the person whose name is subscribed to this instrument,
and acknowledged that he or she executed it.
............................................ (Signature
of Notary Public)
NOTARY SEAL
(Added to NRS by 2011, 1352)
NONPROBATE TRANSFER OF PROPERTY UPON DEATH
General Provisions
NRS 111.700 Definitions. As
used in NRS 111.700 to 111.815,
inclusive, unless the context otherwise requires, the words and terms defined
in NRS 111.701 to 111.749,
inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2011, 1418)
NRS 111.701 “Account” defined. “Account”
means an agreement of deposit between a depositor and a financial institution
and includes a checking account, savings account, certificate of deposit and
share account.
(Added to NRS by 2011, 1418)
NRS 111.703 “Agent” defined. “Agent”
has the meaning ascribed to it in NRS
132.045.
(Added to NRS by 2011, 1418)
NRS 111.705 “Beneficiary” defined. “Beneficiary”
has the meaning ascribed to it in NRS
132.050.
(Added to NRS by 2011, 1418)
NRS 111.707 “Contract” defined. “Contract”
includes an insurance policy, contract of employment, bond, mortgage,
promissory note, certificated or uncertificated security, account, custodial
agreement, deposit agreement, compensation agreement, deferred compensation
plan, pension plan, individual retirement plan, employee benefit plan, trust,
conveyance, deed of gift, marital property agreement or other written
instrument of a similar nature.
(Added to NRS by 2011, 1418)
NRS 111.709 “Devisee” defined. “Devisee”
has the meaning ascribed to it in NRS
132.100.
(Added to NRS by 2011, 1418)
NRS 111.711 “Financial institution” defined. “Financial
institution” means an organization authorized to do business under state or
federal laws relating to financial institutions and includes a bank, thrift
company, trust company, savings bank, building and loan association, savings
and loan company or association and credit union.
(Added to NRS by 2011, 1418)
NRS 111.713 “Governing instrument” defined. “Governing
instrument” has the meaning ascribed to it in NRS 132.155.
(Added to NRS by 2011, 1418)
NRS 111.715 “Heirs” defined. “Heirs”
has the meaning ascribed to it in NRS
132.165.
(Added to NRS by 2011, 1418)
NRS 111.717 “Held in beneficiary form” defined. “Held
in beneficiary form” means the holding of property which has been registered in
beneficiary form or another writing that names the owner of the property
followed by a transfer-on-death direction and the designation of a beneficiary.
(Added to NRS by 2011, 1418)
NRS 111.719 “Multiple-party account” defined. “Multiple-party
account” means an account payable on request to one or more of two or more
parties, whether or not a right of survivorship is mentioned.
(Added to NRS by 2011, 1418)
NRS 111.721 “Nonprobate transfer” defined.
1. “Nonprobate transfer” means a transfer
of any property or interest in property from a decedent to one or more other
persons by operation of law or by contract that is effective upon the death of
the decedent and includes, without limitation:
(a) A transfer by right of survivorship,
including a transfer pursuant to subsection 1 of NRS 115.060;
(b) A transfer by deed upon death pursuant to NRS 111.655 to 111.699,
inclusive; and
(c) A security registered as transferable on the
death of a person.
2. The term does not include:
(a) Property that is subject to administration in
probate of the estate of the decedent;
(b) Property that is set aside, without
administration, pursuant to NRS 146.070;
and
(c) Property transferred pursuant to an affidavit
as authorized by NRS 146.080.
(Added to NRS by 2011, 1418)
NRS 111.723 “Party” defined. “Party”
means a person who, by the terms of an account, has a present right, subject to
request, to payment from the account other than as a beneficiary or agent.
(Added to NRS by 2011, 1419)
NRS 111.725 “Payment” defined. “Payment,”
as it relates to sums on deposit, includes withdrawal, payment to a party or
third person pursuant to a check or other request and a pledge of sums on
deposit by a party, or a set-off, reduction or other disposition of all or part
of an account pursuant to a pledge.
(Added to NRS by 2011, 1419)
NRS 111.727 “Personal representative” defined. “Personal
representative” has the meaning ascribed to it in NRS 132.265.
(Added to NRS by 2011, 1419)
NRS 111.729 “POD designation” defined. “POD
designation” means the designation of:
1. A beneficiary in an account payable on
request to one party during the party’s lifetime and on the party’s death to one
or more beneficiaries, or to one or more parties during their lifetimes and on
death of all the parties to one or more beneficiaries; or
2. A beneficiary in an account in the name
of one or more parties as trustee for one or more beneficiaries if the relationship
is established by the terms of the account and there is no subject of the trust
other than the sums on deposit in the account, whether or not payment to the
beneficiary is mentioned.
(Added to NRS by 2011, 1419)
NRS 111.731 “Receive” defined. “Receive,”
as it relates to notice to a financial institution, means receipt in the office
or branch office of the financial institution in which the account is
established or, if the terms of the account require notice at a particular
place, in the place required.
(Added to NRS by 2011, 1419)
NRS 111.733 “Register in beneficiary form” defined. “Register
in beneficiary form” means to title an account record, certificate or other
written instrument evidencing ownership of property in the name of the owner
followed by a transfer-on-death direction as described in NRS 111.771 and the designation of a beneficiary.
(Added to NRS by 2011, 1419)
NRS 111.735 “Request” defined. “Request”
means a request for payment complying with all terms of the account, including
special requirements concerning necessary signatures and regulations of the
financial institution. For the purposes of NRS 111.700
to 111.815, inclusive, if the terms of the account
condition payment on advance notice, a request for payment is treated as
immediately effective and a notice of intent to withdraw is treated as a
request for payment.
(Added to NRS by 2011, 1419)
NRS 111.737 “State” defined. “State”
includes any state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico and any territory or possession subject to the
jurisdiction of the United States.
(Added to NRS by 2011, 1419)
NRS 111.739 “Sums on deposit” defined. “Sums
on deposit” means the balance payable on an account, including interest and
dividends earned, whether or not included in the current balance, and any
deposit life insurance proceeds added to the account by reason of the death of
a party.
(Added to NRS by 2011, 1419)
NRS 111.741 “Terms of the account” defined. “Terms
of the account” includes the deposit agreement and other terms and conditions,
including the form, of the deposit.
(Added to NRS by 2011, 1420)
NRS 111.743 “Transferring entity” defined. “Transferring
entity” means a person who owes a debt or is obligated to pay money or
benefits, render contract performance, deliver or convey property, or change
the record of ownership of property on the books, records and accounts of an
enterprise or on a certificate or document of title that evidences property
rights, and includes any governmental agency or business entity that, or
transfer agent who, issues certificates of ownership or title to property and a
person acting as a custodial agent for an owner’s property.
(Added to NRS by 2011, 1420)
NRS 111.745 “Trust” defined. “Trust”
has the meaning ascribed to it in NRS
132.350.
(Added to NRS by 2011, 1420)
NRS 111.747 “Trustee” defined. “Trustee”
has the meaning ascribed to it in NRS
132.355.
(Added to NRS by 2011, 1420)
NRS 111.749 “Will” defined. “Will”
has the meaning ascribed to it in NRS
132.370.
(Added to NRS by 2011, 1420)
General Personal and Miscellaneous Property
NRS 111.751 Provision for nonprobate transfer in contract.
1. A provision for a nonprobate transfer
on death in a contract is nontestamentary and includes any written provision
that:
(a) Money or other benefits due to, controlled by
or owned by a decedent before death must be paid after the decedent’s death to
a person whom the decedent designates in the contract or in a separate writing,
including a will, executed before or at the same time as the contract, or
later;
(b) Money due or to become due under the contract
ceases to be payable in the event of death of the promisee or the promisor
before payment or demand; or
(c) Any property controlled by or owned by the
decedent before death which is the subject of the contract passes to a person
whom the decedent designates in the contract or in a separate writing,
including a will, executed before or at the same time as the contract, or
later.
2. A nonprobate transfer described in
subsection 1:
(a) Is exempt from the requirements of chapter 133 of NRS;
(b) Is not subject to administration as part of
the person’s estate at death;
(c) Is not subject to distribution pursuant to
the decedent’s will or pursuant to chapter 134
of NRS, except to the extent that the beneficiary designation fails; and
(d) May be established in conjunction with the
ownership registration of an asset, as provided in NRS
111.771.
3. A beneficiary designation that involves
an interest in real property must be done in the form of a deed that satisfies
the requirements of NRS 111.655 to 111.699, inclusive.
4. Upon a decedent’s death:
(a) Money or other benefits due to, controlled by
or owned by that decedent before death must be paid after the decedent’s death
to the beneficiary whom the decedent designates in the contract or in a
separate writing, including a will, executed before or at the same time as the
contract, or later;
(b) If the contract provides that money due or to
become due under the contract ceases to be payable in the event of the death of
the promisee or the promisor before payment or demand, such provision is
effective; and
(c) Any property controlled by or owned by the
decedent before death which is the subject of the contract passes to the
beneficiary whom the decedent designates in the contract or in a separate
writing, including a will, executed before or at the same time as the contract,
or later.
5. Notwithstanding the provisions of this
section to the contrary, a writing separate from a contract is not effective to
the extent it violates the terms of the contract unless it is signed or
otherwise ratified by all parties to the contract.
6. Nothing in NRS
111.751 to 111.815, inclusive, authorizes a
married person to transfer or otherwise affect the community property rights of
that person’s spouse.
(Added to NRS by 2011, 1420)
NRS 111.753 Authority of agent to make nonprobate transfer of property after
death of owner. For the purpose of
discharging its duties under NRS 111.751 to 111.779, inclusive, the authority of a transferring
entity acting as agent for an owner of property subject to a nonprobate
transfer does not cease at the death of the owner. The transferring entity
shall transfer the property to the designated beneficiary in accordance with
the contract between the transferring entity and the deceased owner and with NRS 111.751 to 111.779,
inclusive.
(Added to NRS by 2011, 1421)
NRS 111.755 Agreement between owner and transferring entity; authorized
content of contract concerning such agreement; effective date of designation of
beneficiary when transferring entity’s acceptance required.
1. Provision for a nonprobate transfer is
a matter of agreement between the owner and the transferring entity, under such
rules, terms and conditions as the owner and transferring entity may agree.
Before a nonprobate transfer is effective, the contract may require:
(a) Submission to the transferring entity of a
beneficiary designation under a governing instrument;
(b) Registration by a transferring entity of a
transfer-on-death direction on any certificate or record evidencing ownership
of property;
(c) The consent of a contract obligor for a
transfer of performance due under the contract;
(d) The consent of a financial institution for a
transfer of an obligation of the financial institution;
(e) The consent of a transferring entity for a
transfer of an interest in the transferring entity; or
(f) Compliance with any other express condition.
2. Whenever a contract provision relating
to a nonprobate transfer requires any of the conditions set forth in subsection
1, nothing in NRS 111.751 to 111.779,
inclusive, imposes an obligation on a transferring entity to accept an owner’s
request to make provision for a nonprobate transfer of property unless the
conditions have been met.
3. When a beneficiary designation,
revocation or change is subject to acceptance by a transferring entity, the
transferring entity’s acceptance of the beneficiary designation, revocation or
change relates back to and is effective as of the time when the request was
received by the transferring entity.
(Added to NRS by 2011, 1421)
NRS 111.757 Transfer to designated beneficiary according to beneficiary
designation or other direction. When
a transferring entity accepts a beneficiary designation or beneficiary
assignment or registers in beneficiary form certain property, the acceptance or
registration constitutes the agreement of the owner and transferring entity
that, unless the beneficiary designation is revoked or changed before the death
of the owner, on proof of the death of the owner and compliance with the
transferring entity’s requirements for showing proof of entitlement, the
property will be transferred to and placed in the name and control of the
beneficiary in accordance with the beneficiary designation or transfer-on-death
direction, the agreement of the parties and the provisions of NRS 111.751 to 111.779,
inclusive.
(Added to NRS by 2011, 1421)
NRS 111.759 Proper execution and delivery required for transfer of property
upon death of owner. A beneficiary
designation, under a written instrument or law, that authorizes a transfer of
property pursuant to a written designation of beneficiary transfers the right
to receive the property to the designated beneficiary who survives, effective
on the death of the owner, if the beneficiary designation is executed and
delivered in proper form to the transferring entity before the death of the
owner.
(Added to NRS by 2011, 1421)
NRS 111.761 Proper execution and delivery or acknowledgment required for
assignment of right to receive performance effective upon death of owner; other
methods of assignment not precluded.
1. A written assignment of a contract
right which assigns the right to receive any performance remaining due under
the contract to an assignee designated by the owner and which expressly states
that the assignment is not to take effect until the death of the owner
transfers the right to receive performance due under the contract to the
designated assignee beneficiary, effective on the death of the owner, if the
assignment is executed and delivered in proper form to the contract obligor
before the death of the owner or is executed in proper form and acknowledged
before a notary public or other person authorized to administer oaths. A
beneficiary assignment need not be supported by consideration or be delivered
to the assignee beneficiary.
2. This section does not preclude other
methods of assignment which are authorized by law and which have the effect of
postponing enjoyment of a contract right until the death of the owner.
(Added to NRS by 2011, 1422)
NRS 111.763 Proper execution and acknowledgment required to transfer
interest in tangible personal property effective upon death of owner; other
methods of transfer not precluded.
1. A deed of gift, bill of sale or other
writing intended to transfer an interest in tangible personal property which
expressly states that the transfer is not to take effect until the death of the
owner transfers ownership to the designated transferee beneficiary, effective
on the death of the owner, if the instrument is in other respects sufficient to
transfer the type of property involved and is executed by the owner and
acknowledged before a notary public or other person authorized to administer
oaths. A beneficiary transfer instrument need not be supported by consideration
or be delivered to any transferee beneficiary.
2. This section does not preclude other
methods of transferring ownership of tangible personal property which are
authorized by law and which have the effect of postponing enjoyment of property
until the death of the owner.
(Added to NRS by 2011, 1422)
NRS 111.765 Property held in beneficiary form: Direct transfer; rights of
owner; effective date of transfer.
1. A transferor of property, with or
without consideration, may directly transfer the property to a transferee to be
held in beneficiary form, as owner of the property.
2. A transferee under an instrument
described in subsection 1 of NRS 111.751 is the
owner of the property for all purposes and has all the rights to the property
otherwise provided by law to owners, including the right to revoke or change
the beneficiary designation.
3. A direct transfer of property to a
transferee to be held in beneficiary form is effective when the writing
perfecting the transfer becomes effective to make the transferee the owner.
(Added to NRS by 2011, 1422)
NRS 111.767 Rights of designated beneficiaries; transfer of property when no
beneficiary survives owner.
1. Before the death of the owner, a
designated beneficiary has no rights in the property by reason of the
beneficiary designation and the signature or agreement of the beneficiary is
not required for any transaction respecting the property.
2. On the death of one of two or more
joint owners, property with respect to which a beneficiary designation has been
made belongs to the surviving joint owner or owners and the right of
survivorship continues as between two or more surviving joint owners.
3. On the death of a sole owner, property
passes by operation of law to the beneficiary.
4. If two or more beneficiaries survive,
there is no right of survivorship among the beneficiaries in the event of the
death of a beneficiary thereafter unless the beneficiary designation expressly
provides for survivorship among them and, unless so expressly provided,
surviving beneficiaries hold their separate interests in the property as
tenants in common. The share of any subsequently deceased beneficiary belongs
to that beneficiary’s estate.
5. If no beneficiary survives the owner,
the property belongs to the estate of the owner.
(Added to NRS by 2011, 1422)
NRS 111.769 Revocation of beneficiary designation: Authorized unless
expressly made irrevocable; agreement of all owners; effect of subsequent
designations or transfers; effective date.
1. Unless a beneficiary designation is
expressly made irrevocable, a beneficiary designation may be revoked or changed
in whole or in part during the lifetime of the owner. A revocation or change of
a beneficiary designation involving property of joint owners may only be made
with the agreement of all owners then living.
2. A subsequent beneficiary designation
revokes a previous beneficiary designation unless the subsequent beneficiary
designation expressly provides otherwise.
3. A revocation or change in a beneficiary
designation must comply with the terms of the governing instrument, the rules
of the transferring entity and the applicable law.
4. A beneficiary designation may not be
revoked or changed by the provisions of a will unless the beneficiary
designation expressly grants the owner the right to revoke or change a
beneficiary designation by will. If a beneficiary designation is revoked by
will, it must be revoked by an express provision in the will and extrinsic
evidence is not admissible to establish the testator’s intent concerning the
beneficiary designation.
5. A transfer during the owner’s lifetime
of the owner’s interest in property, with or without consideration, terminates
the beneficiary designation with respect to the property transferred.
6. The effective date of a revocation or
change in a beneficiary designation must be determined in the same manner as
the effective date of a beneficiary designation.
(Added to NRS by 2011, 1423)
NRS 111.771 Property held in beneficiary form; registration in beneficiary
form; transfer-on-death directions.
1. Property may be held in beneficiary
form or registered in beneficiary form by including in the name in which the
property is held or registered a direction to transfer the property on the
death of the owner to a beneficiary designated by the owner.
2. Property is registered in beneficiary
form by showing on the account record, security certificate or written
instrument evidencing ownership of the property the name of the owner, and the
form of ownership by which two or more joint owners hold the property, followed
in substance by the words “transfer on death to.............. (name of
beneficiary).” In lieu of the words “transfer on death to,” the words “pay on
death to” or “pay on death to the owner’s lineal descendants, per stirpes” or
the abbreviation “TOD,” “POD” or “LDPS” may be used. The designation of a
person’s heirs as beneficiaries does not make the property subject to
administration as part of the person’s estate, but the identities of the
beneficiaries must be determined pursuant to chapter
134 of NRS as they relate to the owner’s separate property.
3. A transfer-on-death direction may only
be placed on an account record, security certificate or instrument evidencing
ownership of property by the transferring entity or a person authorized by the
transferring entity.
4. A transfer-on-death direction transfers
the owner’s interest in the property to the designated beneficiary, effective
on the death of the owner, if the property is registered in beneficiary form
before the death of the owner or if the request to make the transfer-on-death
direction is delivered in proper form to the transferring entity before the
death of the owner.
5. An account record, security certificate
or written instrument evidencing ownership of property that contains a
transfer-on-death direction written as part of the name in which the property
is held or registered is conclusive evidence in the absence of fraud, duress,
undue influence or evidence of clerical mistake by the transferring entity that
the direction was regularly made by the owner and accepted by the transferring
entity and was not revoked or changed before the death giving rise to the
transfer. The transferring entity has no obligation to retain the original
writing, if any, by which the owner caused the property to be held in
beneficiary form or registered in beneficiary form, more than 6 months after
the transferring entity has mailed or delivered to the owner, at the address
shown on the registration, an account statement, certificate or instrument that
shows the manner in which the property is held in beneficiary form or
registered in beneficiary form.
(Added to NRS by 2011, 1423)
NRS 111.773 Disqualification of beneficiary. Any
interest in property that would be distributed by nonprobate transfer to or for
a beneficiary who is disqualified as a beneficiary pursuant to chapter 41B of NRS must be transferred as if
the disqualified beneficiary had disclaimed the interest immediately upon the
decedent’s death.
(Added to NRS by 2011, 1424)
NRS 111.775 Authority of agent, guardian or other fiduciary to change
beneficiary designation. An agent,
guardian of the person or other fiduciary may not make, revoke or change a
beneficiary designation unless:
1. The power of attorney or other document
establishing the agent, guardian or other fiduciary’s right to act or a court
order expressly authorizes such action; and
2. The action complies with the terms of
the governing instrument, the rules of the transferring entity and applicable
law.
(Added to NRS by 2011, 1424)
NRS 111.777 Rights of beneficiary if property lost, destroyed, damaged or
converted during owner’s lifetime. If
property subject to a beneficiary designation is lost, destroyed, damaged or
involuntarily converted during the owner’s lifetime, the beneficiary succeeds
to any right with respect to the loss, destruction, damage or involuntary
conversion which the owner would have had if the owner had survived but has no
interest in any payment or substitute property received by the owner during the
owner’s lifetime.
(Added to NRS by 2011, 1424)
NRS 111.779 Liability of nonprobate transferee; proceedings to impose
liability; payment of claims against nonprobate assets.
1. Except as otherwise provided in NRS 21.090 and other applicable law, a
transferee of a nonprobate transfer is liable to the probate estate of the
decedent for allowed claims against that decedent’s probate estate to the
extent the estate is insufficient to satisfy those claims.
2. The liability of a nonprobate
transferee may not exceed the value of nonprobate transfers received or
controlled by that transferee.
3. Nonprobate transferees are liable for
the insufficiency described in subsection 1 in the following order of priority:
(a) A transferee specified in the decedent’s will
or any other governing instrument as being liable for such an insufficiency, in
the order of priority provided in the will or other governing instrument;
(b) The trustee of a trust serving as the
principal nonprobate instrument in the decedent’s estate plan as shown by its
designation as devisee of the decedent’s residuary estate or by other facts or
circumstances, to the extent of the value of the nonprobate transfer received or
controlled; and
(c) Other nonprobate transferees, in proportion
to the values received.
4. Unless otherwise provided by the trust
instrument, interests of beneficiaries in all trusts incurring liabilities
under this section abate as necessary to satisfy the liability, as if all the
trust instruments were a single will and the interests were devises under it.
5. If a nonprobate transferee is a spouse
or a minor child, the nonprobate transferee may petition the court to be
excluded from the liability imposed by this section as if the nonprobate
property received by the spouse or minor child were part of the decedent’s
estate. Such a petition may be made pursuant to the applicable provisions of chapter 146 of NRS, including, without
limitation, the provisions of NRS 146.010,
NRS 146.020 without regard to the
filing of an inventory and subsection 2 of NRS
146.070.
6. A provision made in one instrument may
direct the apportionment of the liability among the nonprobate transferees
taking under that or any other governing instrument. If a provision in one
instrument conflicts with a provision in another, the later one prevails.
7. Upon due notice to a nonprobate
transferee, the liability imposed by this section is enforceable in probate
proceedings in this State, whether or not the transferee is located in this
State.
8. If a probate proceeding is pending, a
proceeding under this section may be commenced by the personal representative
of the decedent’s estate or, if the personal representative declines to do so,
by a creditor in the name of the decedent’s estate, at the expense of the
creditor and not of the estate. If a creditor successfully establishes an
entitlement to payment under this section, the court must order the
reimbursement of the costs reasonably incurred by the creditor, including
attorney’s fees, from the transferee from whom the payment is to be made,
subject to the limitations of subsection 2, or from the estate as a cost of
administration, or partially from each, as the court deems just. A personal
representative who declines in good faith to commence a requested proceeding
incurs no personal liability for declining.
9. If a probate proceeding is not pending,
a proceeding under this section may be commenced as a civil action by a creditor
at the expense of the creditor.
10. If a proceeding is commenced pursuant
to this section, it must be commenced:
(a) As to a creditor whose claim was allowed
after proceedings challenging disallowance of the claim by the personal
representative, within 60 days after final allowance of the claim by the
probate court or within 1 year after the decedent’s death, whichever is later.
(b) As to a creditor whose claim against the
decedent is being adjudicated in a separate proceeding that is still pending 1
year after the decedent’s death, within 60 days after the adjudication of the
claim in favor of the creditor is final and no longer subject to
reconsideration or appeal.
(c) As to the recovery of benefits paid for
Medicaid, within 3 years after the decedent’s death.
(d) As to all other creditors, within 1 year
after the decedent’s death.
11. Unless a written notice asserting that
a decedent’s probate estate is nonexistent or insufficient to pay allowed
claims and statutory allowances has been received from the decedent’s personal
representative, the following rules apply:
(a) Payment or delivery of assets by a financial
institution, registrar or other obligor to a nonprobate transferee in
accordance with the terms of the governing instrument controlling the transfer
releases the obligor from all claims for amounts paid or assets delivered.
(b) A trustee receiving or controlling a
nonprobate transfer is released from liability under this section with respect
to any assets distributed to the trust’s beneficiaries. Each beneficiary to the
extent of the distribution received becomes liable for the amount of the
trustee’s liability attributable to assets received by the beneficiary.
12. Notwithstanding any provision of this
section to the contrary:
(a) A creditor has no claim against property
transferred pursuant to a power of appointment exercised by a decedent unless
it was exercisable in favor of the decedent or the decedent’s estate.
(b) A purchaser for value of property or a lender
who acquires a security interest in the property from a beneficiary of a
nonprobate transfer after the death of the owner, in good faith:
(1) Takes the property free of any claims
or of liability to the owner’s estate, creditors of the owner’s estate, persons
claiming rights as beneficiaries under the nonprobate transfer or heirs of the
owner’s estate, in absence of actual knowledge that the transfer was improper;
and
(2) Has no duty to verify sworn
information relating to the nonprobate transfer. The protection provided by
this subparagraph applies to information that relates to the ownership interest
of the beneficiary in the property and the beneficiary’s right to sell,
encumber and transfer good title to a purchaser or lender and does not relieve
a purchaser or lender from the notice imparted by instruments of record
respecting the property.
13. As used in this section, “devise” has
the meaning ascribed to it in NRS 132.095.
(Added to NRS by 2011, 1424)
NRS 111.781 Effect of divorce or annulment on nonprobate transfer of
property; liability of payor for payment or transfer made in good faith;
federal preemption.
1. Except as otherwise provided by the
express terms of a governing instrument, a court order or a contract relating
to the division of the marital estate made between the divorced persons before
or after the marriage, divorce or annulment, the divorce or annulment of a
marriage:
(a) Revokes any revocable:
(1) Disposition or appointment of property
made by a divorced person to his or her former spouse in a governing instrument
and any disposition or appointment created by law or in a governing instrument
to a relative of the divorced person’s former spouse;
(2) Provision in a governing instrument
conferring a general or nongeneral power of appointment on the divorced
person’s former spouse or on a relative of the divorced person’s former spouse;
and
(3) Nomination in a governing instrument
that nominates a divorced person’s former spouse or a relative of the divorced
person’s former spouse to serve in any fiduciary or representative capacity,
including a personal representative capacity, including a personal
representative, executor, trustee, conservator, agent or guardian; and
(b) Severs the interest of the former spouses in
property held by them at the time of the divorce or annulment as joint tenants
with the right of survivorship or as community property with a right of
survivorship and transforms the interests of the former spouses into equal
tenancies in common.
2. A severance under paragraph (b) of
subsection 1 does not affect any third-party interest in property acquired for
value and in good faith reliance on an apparent title by survivorship in the
survivor of the former spouses unless a writing declaring the severance has
been noted, registered, filed or recorded in records appropriate to the kind
and location of the property which records are relied upon, in the ordinary
course of transactions involving such property, as evidence of ownership.
3. The provisions of a governing
instrument are given effect as if the former spouse and relatives of the former
spouse disclaimed all provisions revoked by this section or, in the case of a
revoked nomination in a fiduciary or representative capacity, as if the former
spouse and relatives of the former spouse died immediately before the divorce
or annulment.
4. Any provisions revoked solely by this
section are revived by the divorced person’s remarriage to the former spouse or
by a nullification of the divorce or annulment.
5. Unless a court in an action commenced
pursuant to chapter 125 of NRS specifically
orders otherwise, a restraining order entered pursuant to NRS 125.050 does not preclude a party to
such an action from making or changing beneficiary designations that specify
who will receive the party’s assets upon the party’s death.
6. A payor or other third party is not
liable for having made a payment or transferred an item of property or any
other benefit to a beneficiary designated in a governing instrument affected by
the provisions of this section or for having taken any other action in good
faith reliance on the validity of the governing instrument before the payor or
other third party received written or actual notice of any event affecting a
beneficiary designation. A payor or other third party is liable for a payment
made or other action taken after the payor or other third party received
written or actual notice of a claimed forfeiture or revocation under this
section.
7. Written notice of the divorce,
annulment or remarriage or written notice of a complaint or petition for
divorce or annulment must be mailed to the payor’s or other third party’s main
office or home by registered or certified mail, return receipt requested, or
served upon the payor or other third party in the same manner as a summons in a
civil action. Upon receipt of written notice of the divorce, annulment or
remarriage, a payor or other third party may pay any amount owed or transfer or
deposit any item of property held by it to or with the court having
jurisdiction of the probate proceedings relating to the decedent’s estate or,
if no proceedings have been commenced, to or with the court having jurisdiction
of probate proceedings relating to decedents’ estates located in the county of
the decedent’s residence. The court shall hold the funds or item of property
and, upon its determination under this section, shall order disbursement or
transfer in accordance with the determination. Payments, transfers or deposits
made to or with the court discharge the payor or other third party from all
claims for the value of amounts paid to or items of property transferred to or
deposited with the court.
8. A person who purchases property from a
former spouse, relative of a former spouse or any other person for value and
without notice, or who receives from a former spouse, relative of a former
spouse or any other person a payment or other item of property in partial or
full satisfaction of a legally enforceable obligation, is neither obligated
under this section to return the payment, item of property or benefit nor is
liable under this section for the amount of the payment or the value of the
item of property or benefit. A former spouse, relative of a former spouse or
other person who, not for value, received a payment, item of property or any
other benefit to which that person is not entitled under this section is
obligated to return the payment, item of property or benefit or is personally
liable for the amount of the payment or the value of the item of property or
benefit to the person who is entitled to it under this section.
9. If this section or any part of this
section is preempted by federal law with respect to a payment, an item of
property or any other benefit covered by this section, a former spouse,
relative of the former spouse or any other person who, not for value, received
a payment, item of property or any other benefit to which that person is not
entitled under this section is obligated to return that payment, item of
property or benefit or is personally liable for the amount of the payment or
the value of the item of property or benefit to the person who would have been
entitled to it were this section or part of this section not preempted.
10. As used in this section:
(a) “Disposition or appointment of property”
includes a transfer of an item of property or any other benefit to a
beneficiary designated in a governing instrument.
(b) “Divorce or annulment” means any divorce or
annulment or any dissolution or declaration of invalidity of a marriage. A
decree of separation that does not terminate the status of husband and wife is
not a divorce for purposes of this section.
(c) “Divorced person” includes a person whose
marriage has been annulled.
(d) “Governing instrument” means a governing
instrument executed by a divorced person before the divorce or annulment of the
person’s marriage to the person’s former spouse.
(e) “Relative of the divorced person’s former
spouse” means a person who is related to the divorced person’s former spouse by
blood, adoption or affinity and who, after the divorce or annulment, is not
related to the divorced person by blood, adoption or affinity.
(f) “Revocable,” with respect to a disposition,
appointment, provision or nomination, means one under which the divorced
person, at the time of the divorce or annulment, was alone empowered, by law or
under the governing instrument, to cancel the designation in favor of the
person’s former spouse or former spouse’s relative, whether or not the divorced
person was then empowered to designate himself or herself in place of his or
her former spouse or in place of his or her former spouse’s relative and
whether or not the divorced person then had the capacity to exercise the power.
(Added to NRS by 2011, 1426)
Accounts in Financial Institutions
NRS 111.783 Applicability. The
provisions of NRS 111.783 to 111.815,
inclusive:
1. Apply to accounts in financial
institutions in this State for which ownership is determined under Nevada law.
2. Do not apply to:
(a) An account established for a partnership,
joint venture or other organization for a business purpose;
(b) An account controlled by one or more persons
as an agent or trustee for a corporation, unincorporated association or
charitable or civic organization; or
(c) A fiduciary or trust account in which the
relationship is established other than by the terms of the account.
(Added to NRS by 2011, 1428)
NRS 111.785 Single party or multiple parties: POD designation or agency
designation; governing law.
1. An account may be for a single party or
multiple parties. A multiple-party account may be with or without a right of
survivorship between the parties. Subject to subsection 3 of NRS 111.795, a single-party account or a
multiple-party account may have a POD designation or an agency designation, or
both.
2. An account established before, on or
after October 1, 2011, whether in the form prescribed in subsection 1 of NRS 111.787 or in any other form, is a single-party
account or a multiple-party account, with or without right of survivorship, and
with or without a POD designation or an agency designation, and is governed by NRS 111.783 to 111.815,
inclusive.
(Added to NRS by 2011, 1429)
NRS 111.787 Type and form of account; governing law for other types of
accounts.
1. An agreement of deposit that contains
provisions in substantially the following form establishes the type of account
provided, and the account is governed by the provisions of NRS 111.783 to 111.815,
inclusive, applicable to an account of that type:
UNIFORM
SINGLE- OR MULTIPLE-PARTY ACCOUNT FORM
PARTIES [Name one or more parties]:.....................................................................
OWNERSHIP [Select one and initial]:
.......... SINGLE-PARTY
ACCOUNT
.......... MULTIPLE-PARTY
ACCOUNT
Parties own the account in
proportion to net contributions, unless there is clear and convincing evidence
of a different intent.
RIGHTS AT DEATH [Select one and
initial]:
.......... SINGLE-PARTY
ACCOUNT
At death of party, ownership passes
as part of party’s estate.
.......... SINGLE-PARTY
ACCOUNT WITH POD (PAY-ON-DEATH) DESIGNATION
[Name one or more beneficiaries]:
....................................................... .......................................................
At death of party, ownership passes
to POD beneficiaries and is not part of party’s estate but may be subject to
party’s creditors.
.......... MULTIPLE-PARTY
ACCOUNT WITH RIGHT OF SURVIVORSHIP
At death of party, ownership passes
to surviving parties.
.......... MULTIPLE-PARTY
ACCOUNT WITH RIGHT OF SURVIVORSHIP AND POD (PAY-ON-DEATH) DESIGNATION
[Name one or more beneficiaries]:
....................................................... .......................................................
At death of last surviving party,
ownership passes to POD beneficiaries and is not part of last surviving party’s
estate.
.......... MULTIPLE-PARTY
ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP
At death of party, deceased party’s
ownership passes as part of deceased party’s estate.
AGENCY (POWER OF
ATTORNEY) DESIGNATION [Optional]
Agents may make account
transactions for parties but have no ownership or rights at death unless named
as POD beneficiaries.
[To add agency designation to
account, name one or more agents]:
....................................................... .......................................................
[Select one and initial]:
.......... AGENCY
DESIGNATION SURVIVES DISABILITY OR INCAPACITY OF PARTIES
.......... AGENCY
DESIGNATION TERMINATES ON DISABILITY OR INCAPACITY OF PARTIES
2. An agreement of deposit that does not
contain provisions in substantially the form provided in this section is
governed by the provisions of NRS 111.783 to 111.815, inclusive, applicable to the type of account
that most nearly conforms to the depositor’s intent.
(Added to NRS by 2011, 1429)
NRS 111.789 Designation of agent; authority of agent; designation revocable.
1. By a writing signed by all parties, the
parties may designate as agent of all parties on an account a person other than
a party to the account.
2. Unless the terms of an agency
designation provide that the authority of the agent terminates on disability or
incapacity of a party, the agent’s authority survives disability and
incapacity. The agent may act for a disabled or incapacitated party until the
authority of the agent is terminated.
3. The death of the sole party or last
surviving party terminates the authority of an agent.
4. Any designation of an agent on an
account is revocable and may be superseded by a subsequent designation:
(a) With regard to a single-party account, by the
party; and
(b) With regard to a multiple-party account, by
the parties or a surviving party.
Ê Any designation
of an agent is superseded by an acknowledged power of attorney, as described in
chapter 162A of NRS, when a copy of that
power of attorney is delivered to the financial institution.
(Added to NRS by 2011, 1430)
NRS 111.791 Beneficial ownership: Applicability. The
provisions of NRS 111.791 to 111.801,
inclusive, concerning beneficial ownership as between parties or as between
parties and beneficiaries:
1. Apply only to controversies between
those persons and their creditors and other successors.
2. Do not apply to the right of those
persons to payment as determined by the terms of the account.
(Added to NRS by 2011, 1430)
NRS 111.793 Proportional ownership; exception to proportional ownership;
rights of beneficiary; rights of agent.
1. During the lifetime of all parties, an
account belongs to the parties in proportion to the net contribution of each to
the sums on deposit, unless there is clear and convincing evidence of a
different intent. As between parties married to each other, in the absence of
proof otherwise, the net contribution of each is presumed to be an equal
amount.
2. A beneficiary in an account having a
POD designation has no right to sums on deposit during the lifetime of any
party.
3. An agent in an account with an agency
designation has no beneficial right to sums on deposit.
4. As used in this section, “net
contribution” of a party means the sum of all deposits to an account made by or
for the party, less all payments from the account made to or for the party
which have not been paid to or applied to the use of another party and a
proportionate share of any charges deducted from the account, plus a
proportionate share of any interest or dividends earned, whether or not
included in the current balance. The term includes any deposit life insurance
proceeds added to the account by reason of the death of the party whose net
contribution is in question.
(Added to NRS by 2011, 1431)
NRS 111.795 Rights of surviving parties upon death of party to
multiple-party account; right to sums in account if POD designation; rights at
death to sums on deposit.
1. Except as otherwise provided in NRS 111.783 to 111.815,
inclusive, or in an applicable contract, on the death of a party, sums on
deposit in a multiple-party account belong to the surviving party or parties.
If two or more parties survive and one is the surviving spouse of the decedent,
the amount to which the decedent, immediately before death, was beneficially
entitled under NRS 111.793 belongs to the surviving
spouse. If two or more parties survive and none is the surviving spouse of the
decedent, the amount to which the decedent, immediately before death, was
beneficially entitled under NRS 111.793 belongs to
the surviving parties in equal shares and augments the proportion to which each
survivor, immediately before the decedent’s death, was beneficially entitled
under NRS 111.793, and the right of survivorship
continues between the surviving parties.
2. In an account with a POD designation:
(a) On the death of one of two or more parties,
the rights in sums on deposit are governed by subsection 1.
(b) On the death of the sole party or the last
survivor of two or more parties, sums on deposit belong to the surviving
beneficiary or beneficiaries. If two or more beneficiaries survive, sums on
deposit belong to them in equal and undivided shares and there is no right of survivorship
in the event of the death of a beneficiary thereafter. If no beneficiary
survives, sums on deposit belong to the estate of the last surviving party.
3. Sums on deposit in a single-party
account without a POD designation, or in a multiple-party account that, by the
terms of the account, is without right of survivorship, are not affected by the
death of a party, but the amount to which the decedent, immediately before
death, was beneficially entitled under NRS 111.793
is transferred as part of the decedent’s estate. A POD designation in a
multiple-party account without right of survivorship is ineffective. For the
purposes of this section, the designation of an account as a tenancy in common
establishes that the account is without right of survivorship.
4. The ownership right of a surviving
party or beneficiary, or of the decedent’s estate, in sums on deposit is
subject to requests for payment made by a party before the party’s death,
whether paid by the financial institution before or after the death, or unpaid.
The surviving party or beneficiary, or the decedent’s estate, is liable to the
payee of an unpaid request for payment. The liability is limited to a
proportionate share of the amount transferred under this section, to the extent
necessary to discharge the request for payment.
(Added to NRS by 2011, 1431)
NRS 111.797 Alteration of type of account; right of survivorship not altered
by will.
1. The rights at death under NRS 111.795 are determined by the type of account at
the death of a party. The type of account may be altered by written notice
given by a party to the financial institution to change the type of account or
to stop or vary payment under the terms of the account. The notice must be
signed by a party and received by the financial institution during the party’s
lifetime.
2. A right of survivorship arising from
the express terms of the account, NRS 111.795 or a
POD designation may not be altered by a will.
(Added to NRS by 2011, 1432)
NRS 111.799 Transfers not testamentary or subject to estate administration;
effective with or without consideration. A
transfer resulting from the application of NRS 111.795
is effective by reason of the terms of the account involved and NRS 111.783 to 111.815,
inclusive, and is not testamentary or subject to estate administration.
Nonprobate transfers are effective with or without consideration.
(Added to NRS by 2011, 1432)
NRS 111.801 Character of and rights in community property not altered;
exception. A deposit of community
property in an account does not alter the community character of the property
or community rights in the property, but a right of survivorship between
parties married to each other arising from the express terms of the account or NRS 111.795 may not be altered by a will.
(Added to NRS by 2011, 1432)
NRS 111.803 Authority of financial institutions to enter into agreements of
deposit; financial institutions not required to make inquiries concerning
accounts. A financial institution
may enter into an agreement of deposit for a multiple-party account to the same
extent it may enter into an agreement of deposit for a single-party account,
and may provide for a POD designation and an agency designation in a
single-party account or a multiple-party account. A financial institution need
not inquire as to the source of a deposit to an account or as to the proposed
application of a payment from an account.
(Added to NRS by 2011, 1432)
NRS 111.805 Payment of sums on deposit: Multiple-party accounts. A financial institution, on request, may pay
sums on deposit in a multiple-party account to:
1. One or more of the parties, whether or
not another party is disabled, incapacitated or deceased when payment is
requested and whether or not the party making the request survives another
party; or
2. The personal representative, if any,
or, if there is none, the heirs or devisees of a deceased party if proof of
death is presented to the financial institution showing that the deceased party
was the survivor of all other persons named on the account as a party or
beneficiary, unless the account is without right of survivorship under NRS 111.785.
(Added to NRS by 2011, 1432)
NRS 111.807 Payments of sums on deposit: Accounts with POD designation. A financial institution, on request, may pay
sums on deposit in an account with a POD designation to:
1. One or more of the parties, whether or
not another party is disabled, incapacitated or deceased when the payment is
requested and whether or not a party survives another party;
2. The beneficiary or beneficiaries, if
proof of death is presented to the financial institution showing that the
beneficiary or beneficiaries survived all persons named as parties; or
3. The personal representative, if any,
or, if there is none, the heirs or devisees of a deceased party, if proof of
death is presented to the financial institution showing that the deceased party
was the survivor of all other persons named on the account as a party or beneficiary.
(Added to NRS by 2011, 1432)
NRS 111.809 Payment of sums on deposit: Payments to agents. A financial institution, on request of an
agent under an agency designation for an account, may pay to the agent sums on
deposit in the account, whether or not a party is disabled, incapacitated or
deceased when the request is made or received, and whether or not the authority
of the agent terminates on the disability or incapacity of a party.
(Added to NRS by 2011, 1433)
NRS 111.811 Payments made to minors designated as beneficiaries. If a financial institution is required or
authorized to make payment pursuant to NRS 111.783
to 111.815, inclusive, to a minor designated as a
beneficiary, payment may be made pursuant to Nevada’s Uniform Act on Transfers
to Minors, as set forth in chapter 167 of
NRS, or an equivalent law in another jurisdiction.
(Added to NRS by 2011, 1433)
NRS 111.813 Financial institutions discharged from claims after payments;
exceptions; rights of parties not affected.
1. Payment made pursuant to NRS 111.783 to 111.815,
inclusive, in accordance with the type of account, discharges the financial
institution from all claims for amounts so paid, whether or not the payment is
consistent with the beneficial ownership of the account as between parties,
beneficiaries or their successors. Payment may be made whether or not a party,
beneficiary or agent is disabled, incapacitated or deceased when payment is
requested, received or made.
2. Protection under this section does not
extend to payments made after a financial institution has received written
notice from a party, or from the personal representative, surviving spouse, or
heir or devisee of a deceased party, to the effect that payments in accordance
with the terms of the account, including one having an agency designation,
should not be authorized, and the financial institution has had a reasonable
opportunity to act on it when the payment is made. Unless the notice is
withdrawn by the person giving it, the successor of any deceased party must
concur in a request for payment if the financial institution is to be protected
under this section. Unless a financial institution has been served with process
in an action or proceeding, no other notice or other information shown to have
been available to the financial institution affects its right to protection
under this section.
3. A financial institution that receives
written notice pursuant to this section or otherwise has reason to believe that
a dispute exists as to the rights of the parties may refuse, without liability,
to make payments in accordance with the terms of the account.
4. Protection of a financial institution
under this section does not affect the rights of parties in disputes between
themselves or their successors concerning the beneficial ownership of sums on
deposit in accounts or payments made from accounts.
(Added to NRS by 2011, 1433)
NRS 111.815 Rights of beneficiary; limitations; liability of beneficiaries. A beneficiary of a nonprobate transfer takes
the owner’s interest in the property at death, subject to all conveyances,
assignments, contracts, setoffs, licenses, easements, liens and security
interests made by the owner or to which the owner was subject during the
owner’s lifetime. Subject to the limitation of subsection 2 of NRS 111.779:
1. A beneficiary of a nonprobate transfer
of an account with a bank, savings and loan association, credit union, broker
or mutual fund takes the owner’s interest in the property at death, subject to
all requests for payment of money issued by the owner before death, whether
paid by the transferring entity before or after the death or unpaid.
2. The beneficiary is liable to the payee
of an unsatisfied request for payment, to the extent that it represents an
obligation that was enforceable against the owner during the owner’s lifetime.
To the extent that a claim properly paid by the personal representative of the
owner’s estate includes the amount of an unsatisfied request for payment to the
claimant, the personal representative is subrogated to the rights of the
claimant as payee.
3. Each beneficiary’s liability with
respect to an unsatisfied request for payment is limited to the same
proportionate share of the request for payment as the beneficiary’s
proportionate share of the account under the beneficiary designation.
Beneficiaries have the right of contribution among themselves with respect to
requests for payment which are satisfied after the death of the owner, to the
extent the requests for payment would have been enforceable by the payees.
4. In no event may a beneficiary’s
liability to payees, to the owner’s estate and to other beneficiaries pursuant
to this section, with respect to all requests for payment, exceed the value of
the account received by the beneficiary. If a request for payment which would
not have been enforceable under this section is satisfied from a beneficiary’s
share of the account, the beneficiary:
(a) Is not liable to any other payee or the
owner’s estate pursuant to this section for the amount so paid; and
(b) Has no right of contribution against other
beneficiaries with respect to that amount.
(Added to NRS by 2011, 1433)
PRIVATE TRANSFER FEES FOR TRANSFER OF REAL PROPERTY
NRS 111.825 Definitions. As used
in NRS 111.825 to 111.880,
inclusive, the words and terms defined in NRS 111.830
to 111.855, inclusive, have the meanings ascribed
to them in those sections.
(Added to NRS by 2011, 317)
NRS 111.830 “Buyer” defined. “Buyer”
includes, without limitation, a grantee or other transferee of an interest in
real property.
(Added to NRS by 2011, 317)
NRS 111.835 “Payee” defined. “Payee”
means the natural person to whom or the entity to which a private transfer fee
is to be paid and the successors or assigns of the natural person or entity.
(Added to NRS by 2011, 317)
NRS 111.840 “Private transfer fee” defined.
1. “Private transfer fee” means a fee or
charge required by a private transfer fee obligation and payable upon the
transfer of an interest in real property, or payable for the right to make or
accept such a transfer, regardless of whether the fee or charge is a fixed
amount or is determined as a percentage of the value of the interest in real
property or the purchase price or other consideration paid for the transfer of
the interest in real property.
2. The term does not include any:
(a) Consideration payable by the buyer to the
seller for the interest in real property being transferred, including any
subsequent additional consideration payable by the buyer based upon any
subsequent appreciation, development or sale of the property if the additional
consideration is payable on a one-time basis only and the obligation to make
the payment does not bind successors in title to the property;
(b) Commission payable to a licensed real estate
broker for the transfer of real property pursuant to an agreement between the
broker and the seller or buyer, including any subsequent additional commission
payable by the seller or buyer based upon any subsequent appreciation,
development or sale of the property;
(c) Interest, charge, fee or other amount payable
by a borrower to a lender pursuant to a loan secured by a mortgage on real
property, including, without limitation, any fee payable to the lender for
consenting to an assumption of the loan or a transfer of the real property, any
amount paid to the lender pursuant to an agreement which gives the lender the
right to share in any subsequent appreciation in the value of the property, and
any other consideration payable to the lender in connection with the loan;
(d) Rent, reimbursement, charge, fee or other
amount payable by a lessee to a lessor under a lease, including, without
limitation, any fee payable to the lessor for consenting to any assignment,
subletting, encumbrance or transfer of the lease;
(e) Consideration payable to the holder of an option
to purchase an interest in real property or to the holder of a right of first
refusal to purchase an interest in real property for waiving, releasing or not
exercising the option or right upon the transfer of the real property to
another person;
(f) Tax, fee, charge, assessment, fine or other
amount payable to or imposed by a governmental entity;
(g) Fee, charge, assessment, fine or other amount
payable to an association of property owners or any other form of organization
of property owners, including, without limitation, a unit-owners’ association
or master association of a common-interest community, a unit-owners’
association of a condominium hotel or an association of owners of a time-share
plan, pursuant to a declaration, covenant or specific statute applicable to the
association or organization; or
(h) Fee or charge payable to the master developer
of a planned community by the first purchaser of each lot in the planned
community in the event that the first purchaser fails to construct and obtain a
municipal certificate of occupancy for a residence on the lot and retain
ownership of the residence for 1 year before conveying the residence, provided
that the obligation of the first purchaser of the lot to pay the fee or charge
is on a one-time basis only and does not bind subsequent purchasers of the lot.
(Added to NRS by 2011, 317)
NRS 111.845 “Private transfer fee obligation” defined. “Private transfer fee obligation” means an
obligation arising under a declaration or covenant recorded against the title
to real property, or under any other contractual agreement or promise, whether
or not recorded, that requires or purports to require the payment of a private
transfer fee to the declarant or other person specified in the declaration,
covenant or agreement, or to his or her successors or assigns, upon a
subsequent transfer of an interest in the real property.
(Added to NRS by 2011, 318)
NRS 111.850 “Seller” defined. “Seller”
includes, without limitation, a grantor or other transferor of an interest in
real property.
(Added to NRS by 2011, 318)
NRS 111.855 “Transfer” defined. “Transfer”
means the sale, gift, conveyance, assignment, inheritance or other transfer of
an interest in real property.
(Added to NRS by 2011, 318)
NRS 111.860 Legislative findings and declaration. The
Legislature finds and declares that:
1. The public policy of this State favors
the marketability of real property and the transferability of interests in real
property free of defects in title or unreasonable restraints on the alienation
of real property; and
2. A private transfer fee obligation
violates the public policy of this State by impairing the marketability and
transferability of real property and by constituting an unreasonable restraint
on the alienation of real property regardless of the duration or amount of the
private transfer fee or the method by which the private transfer fee obligation
is created or imposed.
(Added to NRS by 2011, 318)
NRS 111.865 Private transfer fee obligations prohibited.
1. Except as otherwise provided in NRS 111.870:
(a) A person shall not, on or after May 20, 2011,
create or record a private transfer fee obligation in this State; and
(b) A private transfer fee obligation that is
created or recorded in this State on or after May 20, 2011, is void and unenforceable.
2. The provisions of subsection 1 do not
validate or make enforceable any private transfer fee obligation that was
created or recorded in this State before May 20, 2011.
(Added to NRS by 2011, 318)
NRS 111.870 Creation before May 20, 2011; recordation; amendment; failure to
record.
1. The payee under a private transfer fee
obligation that was created before May 20, 2011, shall, on or before July 31,
2012, record in the office of the county recorder of the county in which the
real property that is subject to the private transfer fee obligation is located
a notice which includes:
(a) The title “Notice of Private Transfer Fee
Obligation” in not less than 14-point boldface type;
(b) The legal description of the real property;
(c) The amount of the private transfer fee or the
method by which the private transfer fee must be calculated;
(d) If the real property is residential property,
the amount of the private transfer fee that would be imposed on the sale of a
home for $100,000, the sale of a home for $250,000 and the sale of a home for
$500,000;
(e) The date or circumstances under which the
private transfer fee obligation expires, if any;
(f) The purpose for which the money received from
the payment of the private transfer fee will be used;
(g) The name, address and telephone number of the
payee; and
(h) If the payee is:
(1) A natural person, the notarized
signature of the payee; or
(2) An entity, the notarized signature of
an authorized officer or employee of the entity.
2. Upon any change in the information set
forth in the notice described in subsection 1, the payee may record an
amendment to the notice.
3. If the payee fails to comply with the
requirements of subsection 1:
(a) The private transfer fee obligation is void
and unenforceable and any interest in the real property that is subject to the
private transfer fee obligation may thereafter be conveyed free and clear of
the private transfer fee obligation; and
(b) The payee is subject to the liability
described in NRS 111.880.
4. Any person with an interest in the real
property that is subject to the private transfer fee obligation may record in
the office of the county recorder of the county in which the real property is
located an affidavit which:
(a) States that the affiant has actual knowledge
of, and is competent to testify to, the facts set forth in the affidavit;
(b) Sets forth the legal description of the real
property that is subject to the private transfer fee obligation;
(c) Sets forth the name of the owner of the real
property as recorded in the office of the county recorder;
(d) States that the private transfer fee
obligation was created before May 20, 2011, and specifies the date on which the
private transfer fee obligation was created;
(e) States that the payee under the private
transfer fee obligation failed on or before July 31, 2012, to record in the
office of the county recorder of the county in which the real property that is
subject to the private transfer fee obligation is located a notice which
complies with the requirements of subsection 1; and
(f) Is signed by the affiant under penalty of
perjury.
5. When properly recorded, the affidavit
described in subsection 4 constitutes prima facie evidence that:
(a) The real property described in the affidavit
was subject to a private transfer fee obligation that was created before May
20, 2011;
(b) The payee under the private transfer fee
obligation failed on or before July 31, 2012, to record in the office of the
county recorder of the county in which the real property that was subject to
the private transfer fee obligation is located a notice which complies with the
requirements of subsection 1; and
(c) The private transfer fee obligation is void
and unenforceable and any interest in the real property that is subject to the
private transfer fee obligation may thereafter be conveyed free and clear of
the private transfer fee obligation.
(Added to NRS by 2011, 318)
NRS 111.875 Enforcement of private transfer fee obligations created before
May 20, 2011.
1. If a written request for a written
statement of the amount of the transfer fee due upon the sale of real property
is sent by certified mail, return receipt requested, to the payee under a
private transfer fee obligation that was created before May 20, 2011, at the
address appearing in the recorded notice described in NRS
111.870, the payee shall provide such a written statement to the person who
requested the written statement not later than 30 days after the date of
mailing.
2. If the payee fails to comply with the
requirements of subsection 1:
(a) The private transfer fee obligation is void
and unenforceable and any interest in the real property that is subject to the
private transfer fee obligation may thereafter be conveyed free and clear of
the private transfer fee obligation; and
(b) The payee is subject to the liability
described in NRS 111.880.
3. The person who requested the written
statement may record in the office of the county recorder of the county in
which the real property is located an affidavit which:
(a) States that the affiant has actual knowledge
of, and is competent to testify to, the facts set forth in the affidavit;
(b) Sets forth the legal description of the real
property that is subject to the private transfer fee obligation;
(c) Sets forth the name of the owner of the real
property as recorded in the office of the county recorder;
(d) Expressly refers to the recorded notice
described in NRS 111.870 by:
(1) The date on which the notice was
recorded in the office of the county recorder; and
(2) The book, page and document number, as
applicable, of the recorded notice;
(e) States that a written request for a written
statement of the amount of the transfer fee due upon the sale of the real
property was sent by certified mail, return receipt requested, to the payee at
the address appearing in the recorded notice described in NRS 111.870, and that the payee failed to provide such
a written statement to the person who requested the written statement within 30
days after the date of mailing; and
(f) Is signed by the affiant under penalty of
perjury.
4. When properly recorded, the affidavit
described in subsection 3 constitutes prima facie evidence that:
(a) A written request for a written statement of
the amount of the transfer fee due upon the sale of the real property was sent
by certified mail, return receipt requested, to the payee at the address
appearing in the recorded notice described in NRS
111.870;
(b) The payee failed to provide such a written
statement to the person who requested the written statement within 30 days
after the date of mailing; and
(c) The private transfer fee obligation is void
and unenforceable and any interest in the real property that is subject to the
private transfer fee obligation may thereafter be conveyed free and clear of
the private transfer fee obligation.
(Added to NRS by 2011, 320)
NRS 111.880 Liability for creation after May 20, 2011.
1. Any person who creates or records a
private transfer fee obligation in the person’s favor on or after May 20, 2011,
or who fails to comply with a requirement imposed by subsection 1 of NRS 111.870 or subsection 1 of NRS
111.875 is liable for all:
(a) Damages resulting from the enforcement of the
private transfer fee obligation upon the transfer of an interest in the real
property, including, without limitation, the amount of any private transfer fee
paid by a party to the transfer; and
(b) Attorney’s fees, expenses and costs incurred
by a party to the transfer or mortgagee of the real property to recover any
private transfer fee paid or in connection with an action to quiet title.
2. A principal is liable pursuant to this
section for the acts or omissions of an authorized agent of the principal.
(Added to NRS by 2011, 321)
