Terms Used In Nevada Revised Statutes > Chapter 645A > Miscellaneous Provisions

• administering escrows: means the process of managing, conducting or supervising an escrow or escrow-related transaction as an escrow agent or escrow agency. See Nevada Revised Statutes 645A.010
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Commissioner: means the Commissioner of Mortgage Lending. See Nevada Revised Statutes 645A.010
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Division: means the Division of Mortgage Lending of the Department of Business and Industry. See Nevada Revised Statutes 645A.010
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Escrow: means any transaction wherein one person, for the purpose of effecting or closing the sale, purchase, exchange, transfer, encumbering or leasing of real or personal property to another person or persons, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person to be held by such third person until the happening of a specified event or the performance of a prescribed condition, when it is then to be delivered by such third person, in compliance with instructions under which he or she is to act, to a grantee, grantor, promisee, promisor, obligee, obligor, lessee, lessor, bailee, bailor or any agent or employee thereof. See Nevada Revised Statutes 645A.010
• Escrow agency: means :

  (a) Any person who employs one or more escrow agents; or

  (b) An escrow agent who administers escrows on his or her own behalf. See Nevada Revised Statutes 645A.010

• Escrow agent: means any natural person employed by and associated with an escrow agency engaged in the business of administering escrows for compensation. See Nevada Revised Statutes 645A.010
• 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
• Statute: A law passed by a legislature.
• Summons: Another word for subpoena used by the criminal justice system.