[Rev. 11/21/2013 9:33:55 AM--2013]

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)