Nevada Revised Statutes 120.290 – Delivery or filing
1. Subject to subsections 2 to 11, inclusive, delivery of a disclaimer may be effected by personal delivery, first-class mail or any other method likely to result in its receipt.
Terms Used In Nevada Revised Statutes 120.290
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- Inter vivos: Transfer of property from one living person to another living person.
- Intestate: Dying without leaving a will.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- Trustee: A person or institution holding and administering property in trust.
2. In the case of an interest created under the law of intestate succession or an interest created by will, other than an interest in a testamentary trust:
(a) A disclaimer must be delivered to the personal representative of the decedent‘s estate; or
(b) If no personal representative is then serving, it must be filed with a court having jurisdiction to appoint the personal representative.
3. In the case of an interest in a testamentary trust:
(a) A disclaimer must be delivered to the trustee then serving or, if no trustee is then serving, to the personal representative of the decedent’s estate; or
(b) If no personal representative is then serving, it must be filed with a court having jurisdiction to enforce the trust.
4. In the case of an interest in an inter vivos trust:
(a) A disclaimer must be delivered to the trustee then serving;
(b) If no trustee is then serving, it must be filed with a court having jurisdiction to enforce the trust; or
(c) If the disclaimer is made before the time the instrument creating the trust becomes irrevocable, it must be delivered to the settlor of a revocable trust or the transferor of the interest.
5. In the case of an interest created by a beneficiary designation which is disclaimed before the designation becomes irrevocable, the disclaimer must be delivered to the person making the beneficiary designation.
6. In the case of an interest created by a beneficiary designation which is disclaimed after the designation becomes irrevocable:
(a) The disclaimer of an interest in personal property must be delivered to the person obligated to distribute the interest; and
(b) The disclaimer of an interest in real property must be recorded in the office of the county recorder of the county where the real property that is the subject of the disclaimer is located.
7. In the case of a disclaimer by a surviving holder of jointly held property, the disclaimer must be delivered to the person to whom the disclaimed interest passes.
8. In the case of a disclaimer by an object or taker in default of exercise of a power of appointment at any time after the power was created:
(a) The disclaimer must be delivered to the holder of the power or to the fiduciary acting under the instrument that created the power; or
(b) If no fiduciary is then serving, it must be filed with a court having authority to appoint the fiduciary.
9. In the case of a disclaimer by an appointee of a nonfiduciary power of appointment:
(a) The disclaimer must be delivered to the holder, the personal representative of the holder’s estate or to the fiduciary under the instrument that created the power; or
(b) If no fiduciary is then serving, it must be filed with a court having authority to appoint the fiduciary.
10. In the case of a disclaimer by a fiduciary of a power over a trust or estate, the disclaimer must be delivered as provided in subsection 2, 3 or 4, as if the power disclaimed were an interest in property.
11. In the case of a disclaimer of a power by an agent, the disclaimer must be delivered to the principal or the principal’s representative.
12. As used in this section, ‘beneficiary designation’ means an instrument, other than an instrument creating a trust, naming the beneficiary of:
(a) An annuity or insurance policy;
(b) An account with a designation for payment on death;
(c) A security registered in beneficiary form;
(d) A pension, profit-sharing, retirement or other employment-related benefit plan; or
(e) Any other nonprobate transfer at death.