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:

Terms Used In Nevada Revised Statutes 111.721

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Contract: A legal written agreement that becomes binding when signed.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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
  • Probate: Proving a will
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.

(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;

(c) Property transferred pursuant to an affidavit as authorized by NRS 146.080; and

(d) Property transferred from an estate or a trust pursuant to a power of appointment granted under a will or trust, as applicable.

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