Category: Nevada
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Nevada Clarifies Mortgage Law, But What About Deed of Trust Lender Entry Provisions?
In May 2019, effective October 1, 2019, Nevada passed Senate Bill 382 amending the law pertaining to deeds of trust, foreclosure sales, and homeowners’ associations. Among other things, this is a change to Nevada Revised Statute § 40.050, whose language states that a mortgage of real property is not deemed a conveyance. If a mortgage does not constitute a conveyance, the mortgage lender may take…
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Probate Transfers of Real Property in Nevada
Probate is the legal process of settling a decedent’s estate and transferring property to devisees or heirs entitled to receive it. In Nevada, probate proceedings are overseen by the district court of the county where the decedent resided at the time of death (NRS 136.010). Laws governing wills and decedent’s estates are codified at Title…
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Conveying Real Property from a Living Trust in Nevada
For purposes of estate planning, a living trust allows the trust maker to make decisions about their assets in the event of death. The settlor establishes the terms and assets of the trust in a document called the trust instrument. In addition to appointing the trustee of the trust, the trust instrument also designates a…