Terms Used In Nevada Revised Statutes > Chapter 375 > General Provisions

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Contract: A legal written agreement that becomes binding when signed.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Taxation. See Nevada Revised Statutes 360.001
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
• 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.