Nevada Revised Statutes 325.070 – Fee simple deeds to be executed and delivered by trustees on payment of purchase money and expenses; deeds to minors and insane persons
1. After the issuance of the patent for such lands, the corporate authorities, the judge of the district court to whom the patent has been issued or any one of his or her successors in office shall make out, execute and deliver to each person, company, corporation or association who may be legally entitled to the same, as provided in NRS 325.050, 325.090 or 325.130, or as determined under the provisions of NRS 325.060, a deed in fee simple for such part or parts, or lot or lots, of land on payment of:
Terms Used In Nevada Revised Statutes 325.070
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- 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
- Trustee: A person or institution holding and administering property in trust.
(a) His, her or its proper and due proportion of the purchase money for such land, together with his, her or its proportion of such sums as may be necessary to pay for streets, alleys, squares and public grounds, which shall not exceed 50 cents for each lot; and
(b) Such further sums as shall be a reasonable compensation for:
(1) Executing and acknowledging such deed, not exceeding the sum of $3 for the first lot and $1 for each additional lot claimed by the same owner.
(2) Counsel fees and, where determined, moneys expended in the acquisition of the title and the administration of the trust, including reasonable charges for time and services while employed in such trust, not exceeding the sum of $1 for each lot. No estimate shall be made for counsel fees unless the same shall have been actually and necessarily expended.
2. The charges specified in subsection 1 shall be full payment for all expenses attending the execution except for revenue stamps.
3. Deeds made under the provisions of this chapter for the benefit of minors and insane persons shall be to the guardian or trustee of such minor or insane person, as the case may be, in trust for such minor or insane person.