‘Entity’ means a person that has a separate legal existence or has the power to acquire an interest in real property in its own name. The term does not include:

Terms Used In Nevada Revised Statutes 77.060

  • 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.
  • Decedent: A deceased person.
  • 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.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

1.  Any individual other than a nonresident guardian;

2.  A testamentary, inter vivos or charitable trust, with the exception of a business trust, statutory trust or similar trust;

3.  An association or relationship that is not a partnership by reason of NRS 87.070, subsection 3 of NRS 87.4322 or similar provisions of the law of any other jurisdiction;

4.  A decedent‘s estate; or

5.  A public corporation, government or governmental subdivision, agency or instrumentality or a quasi-governmental instrumentality.

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