Nevada Revised Statutes 155.0955 – ‘Transfer instrument’ defined
‘Transfer instrument’ means a legal document intended to effectuate a transfer of property for less than fair market value, whether such transfer becomes effective during the life of the transferor or on or after the transferor’s death and includes, without limitation:
Terms Used In Nevada Revised Statutes 155.0955
- 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
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
1. A will;
2. A trust;
3. A deed; and
4. Any form, contract or other document which:
(a) Creates, conveys or transfers any interest in property;
(b) Creates any type of joint ownership;
(c) Establishes a right of survivorship;
(d) Designates a beneficiary;
(e) Adds an authorized signer on any bank or brokerage account;
(f) Creates or attempts to effectuate a nonprobate transfer to be effective upon the death of the transferor; or
(g) Is intended to amend, modify, eliminate, supersede or revoke any other transfer instrument.