Nevada Revised Statutes 279.470 – Acquisition, management, disposal and encumbrance of interests in real and personal property; insurance
Within the redevelopment area or for purposes of redevelopment, an agency may:
Terms Used In Nevada Revised Statutes 279.470
- Bequest: Property gifted by will.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.
1. Purchase, lease, obtain option upon or acquire by gift, grant, bequest, devise or otherwise, any real or personal property, any interest in property and any improvements thereon.
2. Except as otherwise provided in NRS 279.471 and 279.4712, acquire real property by eminent domain.
3. Clear buildings, structures or other improvements from any real property acquired.
4. Sell, lease, exchange, subdivide, transfer, assign, pledge, encumber by mortgage, deed of trust or otherwise, or otherwise dispose of any real or personal property or any interest in property.
5. Insure or provide for the insurance of any real or personal property or operations of the agency against risks or hazards.
6. Rent, maintain, manage, operate, repair and clear such real property.