Nevada Revised Statutes 167.023 – Transfer by gift or exercise of power of appointment
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A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to the provisions of this chapter.
Terms Used In Nevada Revised Statutes 167.023
- Custodian: means a person so designated in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Minor: means a person who has not attained the age of 18 years. See Nevada Revised Statutes 167.020
- Person: means any natural person, corporation, organization or other legal entity. See Nevada Revised Statutes 167.020
- Transfer: means a transaction which creates custodial property in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020