Nrs: Chapter 111 - Estates In Property; Conveyancing And Recording


Published: 2015

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[Rev. 2/10/2015 4:15:33

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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)

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