Nevada Revised Statutes 39.630 – ‘Heirs property’ defined
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‘Heirs property’ means real property held in tenancy in common which satisfies all the following requirements as of the filing of a partition action:
Terms Used In Nevada Revised Statutes 39.630
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
1. There is no agreement in a record binding all the cotenants which governs the partition of the property.
2. One or more of the cotenants acquired title from a relative, whether living or deceased.
3. Any of the following applies:
(a) Twenty percent or more of the interests are held by cotenants who are relatives;
(b) Twenty percent or more of the interests are held by an individual who acquired title from a relative, whether living or deceased; or
(c) Twenty percent or more of the cotenants are relatives.