USA Statutes : nevada
Title : Title 10 - PROPERTY RIGHTS AND TRANSACTIONS
Chapter : CHAPTER 111 - ESTATES IN PROPERTY; CONVEYANCING AND RECORDING
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]
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]
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]
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)
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]
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]
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
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]
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]
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)
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 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 his interest in the community
property.
(Added to NRS by 1965, 618; A 1981, 1377)
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 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)
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]
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]
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]
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 father, 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 father, although no estate shall have been created or
conveyed to support the contingent remainder after his death.
[45:9:1861; B § 273; BH § 2614; C § 2684; RL § 1059; NCL § 1517]
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]
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]
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)
If land is
granted or devised to a person and after his death to his heirs or the
heirs of his body, regardless of how the grant or devise is expressed, an
estate for life vests in that person and his 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)
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 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)
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 )
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)
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 111.1031 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)
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
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 his 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]
1. The owner of an interest in real property may create a deed
that conveys his interest in real property to a grantee which becomes
effective upon the death of the owner. Such a conveyance is subject to
liens on the property in existence on the date of the death of the owner.
2. The owner of an interest in real property who creates a deed
pursuant to subsection 1 may designate in the deed:
(a) Multiple grantees who will take title to the property upon his
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.
(b) A grantee or multiple grantees who will take title to the
property upon his death as the sole and separate property of the grantee
or grantees without the necessity of the filing of a quitclaim deed or
disclaimer by the spouse of any grantee.
3. If the owner of the real property which is the subject of a
deed created pursuant to subsection 1 holds the interest in the property
as a joint tenant with right of survivorship or as community property
with the right of survivorship and:
(a) 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; or
(b) 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 the owner who conveyed
his interest in real property to the grantee is the last surviving owner.
4. If an owner of an interest in real property who creates a deed
pursuant to subsection 1 transfers his interest in the real property to
another person during his lifetime, the deed created pursuant to
subsection 1 is void.
5. If an owner of an interest in real property who creates a deed
pursuant to subsection 1 executes and records more than one deed
concerning the same real property, the deed that is last recorded before
the death of the owner is the effective deed.
6. A deed created pursuant to subsection 1 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 or the death of the last surviving owner. The deed must be
in substantially the following form:
DEED
I (We) ......................... (owner) hereby convey to
.......................... (grantee), effective on my (our) death, the
following described real property:
(Legal Description)
THIS DEED IS REVOCABLE. THIS DEED DOES NOT TRANSFER ANY OWNERSHIP UNTIL
THE DEATH OF THE GRANTOR. THIS DEED REVOKES ALL PRIOR DEEDS BY THE
GRANTOR WHICH CONVEY THE SAME REAL PROPERTY PURSUANT TO SUBSECTION 1 OF
NRS 111.109 REGARDLESS OF WHETHER THE
PRIOR DEEDS FAILED TO CONVEY THE GRANTOR’S ENTIRE INTEREST IN THE SAME
REAL PROPERTY.
.......................................................
(Signature of Grantor)
7. A deed created pursuant to subsection 1 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. 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. 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 of 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
The undersigned hereby revokes the deed recorded on ..................
(date), in docket or book ....................., at page .........., or
instrument number ...................., records of
........................... County, Nevada.
...........................................................................
..................................
(Date)
(Signature)
8. Upon the death of the last grantor of a deed created pursuant
to subsection 1, a declaration of value of real 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
.................................... (affiant name), being duly sworn,
deposes and says that ............................... (name of deceased),
the decedent mentioned in the attached certified copy of the Certificate
of Death, is the same person as ....................................
(name of grantor), named as the grantor or as one of the grantors in the
deed recorded on ................... (date), in docket or book
........................., at page .........., or instrument number
...................., records of ............................ County,
Nevada, covering the following described property:
(Legal Description)
.................................... (affiant name) is the grantee or at
least one of the grantees to whom the real property is conveyed upon the
death of the grantor ................................ (name of deceased)
or is the authorized representative of the grantee or at least one of the
grantees.
...........................................................................
..................................
(Date)
(Signature)
9. The provisions of this section must not be construed to limit
the recovery of benefits paid for Medicaid.
(Added to NRS by 2003, 2507 ; A 2005, 960 )
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]
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]
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 name thereto as a witness
thereof.
[12:9:1861; B § 240; BH § 2581; C § 2651; RL § 1029; NCL § 1487]
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 name to such conveyance as a witness
thereof.
[13:9:1861; B § 241; BH § 2582; C § 2652; RL § 1030; NCL § 1488]
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]
No certificate of any such proof shall be granted unless:
1. A competent and credible witness shall state, on oath or
affirmation, that he personally knew the person whose name is subscribed
thereto as a party, well knew his signature (stating his 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 he personally knew the person whose name is subscribed to such
conveyance as a witness, well knew his signature (stating his 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]
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 his evidence, 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]
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 him 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 he 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 his reasonable
expenses shall have been first tendered to him.
[17:9:1861; B § 245; BH § 2586; C § 2656; RL § 1034; NCL § 1492]
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]
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]
Any person claiming title to any real property may,
notwithstanding there may be an adverse possession thereof, sell and
convey his interest therein in the same manner and with the same effect
as if he was in actual possession thereof.
[34:9:1861; B § 262; BH § 2603; C § 2673; RL § 1048; NCL § 1506]
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)
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 himself and
his heirs to the grantee, his heirs, 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 him.
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]
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)
No such
conveyance, or charge, shall be deemed fraudulent in favor of a
subsequent purchaser who shall have legal notice thereof at the time of
his purchase, unless it shall appear that the grantee in such conveyance,
or person to be benefited by such charge, was privy to the fraud intended.
[51:9:1861; B § 279; BH § 2620; C § 2690; RL § 1065; NCL §
1523]—(NRS R 1959, 418; reenacted 1960, 324)
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]
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]
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 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]
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)
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 his 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 his 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]
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]
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)
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 agent lawfully
authorized, shall be void.
[70:9:1861; B § 298; BH § 2639; C § 2709; RL § 1084; NCL § 1541]
VOIDABLE RESTRICTIONS AND PROHIBITIONS
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, his 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, his 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, his 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)
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 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 )
1. Any covenant, restriction or condition contained in a deed,
contract or other legal instrument which affects the transfer, sale or
any other interest in real property that prohibits or unreasonably
restricts the owner of the property from using a system for obtaining
solar or wind energy on his property is void and unenforceable.
2. For the purposes of this section, “unreasonably restricts the
use of a system for obtaining solar or wind energy” means placing a
restriction or requirement on the use of such a system which
significantly decreases the efficiency or performance of the system and
does not allow for the use of an alternative system at a comparable cost
and with comparable efficiency and performance.
(Added to NRS by 1995, 1105; A 2005, 1819 )
ACKNOWLEDGMENT OF INSTRUMENTS
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)
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
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 he 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)
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 )
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)
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)
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 own conveyance
shall be first duly recorded.
[26:9:1861; A 1935, 34; 1931 NCL § 1498]
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]
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]
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)
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]
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)
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)
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 him 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 )
EASEMENT FOR COLLECTION OF SOLAR ENERGY
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)
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)
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
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)
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)
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 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 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)
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)
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)
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)
ATTORNEYS-IN-FACT AND AGENTS
1. Every power of attorney, or other instrument in writing,
containing the power to convey any real property as agent or attorney for
the owner thereof, or to execute, as agent or attorney for another, any
conveyance whereby any real property is conveyed, or may be affected,
shall be acknowledged, or proved and certified, and recorded as other
conveyances whereby real property is conveyed or affected are required to
be acknowledged, or proved and certified, and recorded.
2. No such power of attorney or other instrument, certified and
recorded in the manner prescribed in subsection 1, shall be deemed to be
revoked by any act of the party by whom it was executed, until the
instrument containing such revocation shall be deposited for record in
the same office in which the instrument containing the power is recorded.
[27:9:1861; B § 255; BH § 2596; C § 2666; RL § 1041; NCL § 1499] +
[28:9:1861; B § 256; BH § 2597; C § 2667; RL § 1042; NCL §
1500]—(Substituted in revision for NRS 111.330)
Whenever a principal designates
another his attorney-in-fact or agent by a power of attorney in writing
and the writing contains the words “This power of attorney is not
affected by disability of the principal,” or “This power of attorney
becomes effective upon the disability of the principal,” or similar words
showing the intent of the principal that the authority conferred may be
exercised notwithstanding his disability, the authority of the
attorney-in-fact or agent may be exercised by him as provided in the
power on behalf of the principal notwithstanding later disability or
incapacity of the principal at law or later uncertainty whether the
principal is dead or alive. All acts done by the attorney-in-fact or
agent pursuant to the power during any period of disability or
incompetence or uncertainty whether the principal is dead or alive have
the same effect and inure to the benefit of and bind the principal or his
guardian or heirs, devisees and personal representative as if the
principal were alive, competent and not disabled. If a guardian
thereafter is appointed for the principal, the attorney-in-fact or agent,
during the continuance of the appointment shall account to the guardian
rather than the principal. The guardian has the same power the principal
would have had if he were not disabled or incompetent, to revoke, suspend
or terminate all or any part of the power of attorney or agency.
(Added to NRS by 1983, 16)
1. The death, disability or incompetence of any principal who has
executed a power of attorney in writing other than a power as described
by NRS 111.460 does not revoke or
terminate the agency as to the attorney-in-fact, agent or other person
who, without actual knowledge of the death, disability or incompetence of
the principal, acts in good faith under the power of attorney or agency.
Any action so taken, unless otherwise invalid or unenforceable, binds the
principal and his heirs, devisees and personal representatives.
2. An affidavit, executed by the attorney-in-fact or agent,
stating that he did not have, at the time of doing an act pursuant to the
power of attorney, actual knowledge of the revocation or termination of
the power of attorney by death, disability or incompetence is, in the
absence of a showing of fraud or bad faith, conclusive proof of the
nonrevocation or nontermination of the power at that time. If the
exercise of the power requires execution and delivery of any instrument
which is recordable, the affidavit when authenticated for record is
likewise recordable.
3. This section does not alter or affect any provision for
revocation or termination contained in the power of attorney.
(Added to NRS by 1983, 17)
REGISTRATION OF SECURITIES IN BENEFICIARY FORM (UNIFORM ACT)
NRS 111.480 to 111.650
, inclusive:
1. May be cited as the Uniform TOD Security Registration Act; and
2. Must be construed and applied to effectuate their general
purpose to make uniform the law with respect to their subject among
states enacting the Uniform TOD Security Registration Act.
(Added to NRS by 1997, 223)
As used in NRS 111.480 to 111.650 ,
inclusive, unless the context otherwise requires, the words and terms
defined in NRS 111.500 to 111.540
, inclusive, have the meanings ascribed
to them in those sections.
(Added to NRS by 1997, 223)
“Beneficiary” means a person
designated to become the owner of a security upon the death of the
preceding owner.
(Added to NRS by 1997, 223)
“Beneficiary form” means
the registration of a security that indicates the present owner of the
security and designates a beneficiary.
(Added to NRS by 1997, 223)
“Register” means to issue a
certificate showing the ownership of a certificated security or, in the
case of an uncertificated security, to initiate or transfer an account
showing ownership of securities. Its derivatives have a corresponding
meaning.
(Added to NRS by 1997, 223)
“Registering entity”
means a person who originates or transfers title to a security by
registration. The term includes a broker maintaining securities accounts
for customers and a transfer agent or other person acting for or as an
issuer of securities.
(Added to NRS by 1997, 223)
“Security” means a share,
participation or other interest in property, in a business or in an
obligation of an enterprise or other issuer. The term includes a
certificated security, an uncertificated security and a securities
account. As used in this section, “securities account” means:
1. A reinvestment account associated with a security, a securities
account with a broker, a cash balance in a brokerage account, cash, cash
equivalents, interest, earnings or dividends earned or declared on a
security in a securities account, a reinvestment account or a brokerage
account, whether or not credited to the account before the owner’s death;
2. An investment management or custody account with a trust
company or a trust division of a bank with trust powers, including the
securities in the account, a cash balance in the account, cash, cash
equivalents, interest, earnings or dividends earned or declared on a
security in the account, whether or not credited to the account before
the owner’s death; or
3. A cash balance or other property held for or due to the owner
of a security as a replacement for or product of a security held in a
securities account, whether or not credited to the account before the
owner’s death.
(Added to NRS by 1997, 223; A 2005, 57 )
NRS 111.480 to 111.650 ,
inclusive, apply to registrations of securities in beneficiary form made
before, on or after October 1, 1997, by decedents dying on or after
October 1, 1997.
(Added to NRS by 1997, 226)
Only natural
persons whose registration of a security shows sole ownership by one
natural person or multiple ownership by two or more natural persons with
right of survivorship, rather than as tenants in common, may obtain
registration in beneficiary form. Multiple owners of a security
registered in beneficiary form hold as joint tenants with right of
survivorship, as tenants by the entireties or as owners of community
property held in survivorship form, and not as tenants in common.
(Added to NRS by 1997, 223)
1. A security may be registered in beneficiary form if the Uniform
TOD Security Registration Act or a similar statute is in force in:
(a) The state of organization of the issuer or registering entity
or the location of the registering entity’s principal office, the office
of its transfer agent or its office making the registration; or
(b) The state listed as the owner’s address at the time of
registration.
2. A registration governed by the law of a jurisdiction in which
the Uniform TOD Security Registration Act or similar legislation is not
in force or was not in force when a registration in beneficiary form was
made is nevertheless presumed to be valid and authorized as a matter of
contract.
3. As used in this section, “state” includes a state of the United
States, the District of Columbia, the Commonwealth of Puerto Rico, the
Virgin Islands and any territory or possession subject to the
jurisdiction of the United States.
(Added to NRS by 1997, 224)
A security, whether evidenced by certificate or account, is registered
in beneficiary form if the registration includes a designation of a
beneficiary to become the owner at the death of the owner or the deaths
of all multiple owners.
(Added to NRS by 1997, 224)
Registration in beneficiary form may be shown by the words “transfer on
death” or the abbreviation “TOD” or by the words “pay on death” or the
abbreviation “POD” after the name of the registered owner and before the
name of a beneficiary.
(Added to NRS by 1997, 224)
The
designation of a beneficiary on a registration in beneficiary form has no
effect on ownership until the owner’s death. A registration of a security
in beneficiary form may be cancelled or changed at any time by the sole
owner or all then surviving owners, without the consent of the
beneficiary.
(Added to NRS by 1997, 224)
On the death of a sole owner or the last to die of all multiple
owners, ownership of securities registered in beneficiary form transfers
to the beneficiary or beneficiaries who survive all owners. Upon proof of
death of all owners and compliance with any applicable requirements of
the registering entity, a security registered in beneficiary form may be
reregistered in the name of the beneficiary or beneficiaries who survived
the death of all owners. Until division of the security after the death
of all owners, multiple beneficiaries surviving the death of all owners
hold their interests as tenants in common. If no beneficiary survives the
death of all owners, the security belongs to the estate of the deceased
sole owner or the estate of the last to die of all multiple owners.
(Added to NRS by 1997, 224)
1. A transfer on death resulting from a registration in
beneficiary form is effective by reason of the contract regarding the
registration between the owner and the registering entity and NRS 111.480
to 111.650 , inclusive, and is not testamentary.
2. NRS 111.480 to 111.650 , inclusive, do not limit the rights of
creditors of owners of securities against beneficiaries and other
transferees under other laws of this state.
(Added to NRS by 1997, 225)
1. A registering entity is not required to offer or to accept a
request for registration of a security in beneficiary form. If a
registration in beneficiary form is offered by a registering entity, the
owner requesting registration in beneficiary form assents to the
protections given to the registering entity by NRS 111.480 to 111.650 ,
inclusive.
2. By accepting a request for registration of a security in
beneficiary form, the registering entity agrees that the registration
will be effective on the death of the deceased owner as provided in NRS
111.480 to 111.650 , inclusive.
(Added to NRS by 1997, 224)
1. A registering entity offering to accept registrations in
beneficiary form may establish the terms and conditions under which it
will receive requests for registrations in beneficiary form and for
effectuation of registrations in beneficiary form, including requests for
cancellation of previously registered designations of beneficiary and
requests for reregistration to effect a change of beneficiary. The terms
and conditions so established may provide for proving death, avoiding or
resolving any problems concerning fractional shares, designating primary
and contingent beneficiaries, and substituting a named beneficiary’s
descendants to take in the place of the named beneficiary in the event of
the beneficiary’s death.
2. Substitution may be indicated by appending to the name of the
primary beneficiary the letters “LDPS,” standing for “lineal descendants
per stirpes.” This designation substitutes a deceased beneficiary’s
descendants who survive the owner for a beneficiary who fails to survive,
the descendants to be identified and to share in accordance with the law
of the beneficiary’s domicile at the owner’s death governing inheritance
by descendants of an intestate.
3. Other forms of identifying beneficiaries who are to take on one
or more contingencies, and rules for providing proofs and assurances
needed to satisfy reasonable concerns by registering entities regarding
conditions and identities relevant to accurate implementation of
registrations in beneficiary form, may be contained in a registering
entity’s terms and conditions.
(Added to NRS by 1997, 225)
1. A registering entity is discharged from all claims to a
security by the estate, creditors, heirs or devisees of a deceased owner
if it registers a transfer of a security in accordance with NRS 111.610
and does so relying in good faith on:
(a) The registration;
(b) NRS 111.480 to 111.650 , inclusive; and
(c) Information provided to it by affidavit of the personal
representative of the deceased owner, or by the surviving beneficiary or
by the surviving beneficiary’s representatives, or other information
available to the registering entity.
2. The protections of NRS 111.480 to 111.650 ,
inclusive, do not extend to a reregistration or payment made after a
registering entity has received written notice from a claimant to any
interest in the security objecting to effectuation of a registration in
beneficiary form. No other notice or other information available to the
registering entity affects its right to protection under NRS 111.480
to 111.650 , inclusive.
3. The protection provided by NRS 111.480 to 111.650 ,
inclusive, to the registering entity of a security does not affect the
rights of beneficiaries in disputes between themselves and other
claimants to ownership of the security transferred or its value or
proceeds.
4. As used in this section:
(a) “Devisee” means a person designated in a will to receive a
disposition of real or personal property.
(b) “Heirs” means those persons, including the surviving spouse,
who are entitled under the statutes of intestate succession to the
property of a decedent.
(c) “Personal representative” includes an executor, administrator,
successor personal representative, special administrator and persons who
perform substantially the same function.
(Added to NRS by 1997, 225)
