Title 10

NRS 120.150 “Fiduciary” defined. “Fiduciary” means a personal representative, trustee, agent acting under a power of attorney or other person authorized to act as a fiduciary with respect to the property of another person. (Added to NRS by 2007, 278)

NRS 120.160 “Jointly held property” defined. “Jointly held property” means property held in the name of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property. (Add…

NRS 120.170 “Person” defined. “Person” means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture, public corporation, government, governmental subdivision, agency or instrumentality, or any other legal or c…

NRS 120.180 “State” defined. “State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band, or …

NRS 120.190 “Trust” defined. “Trust” means: 1. An express trust, charitable or noncharitable, with additions thereto, whenever and however created; and 2. A trust created pursuant to a statute, judgment or decree which requires the trust to be administered in the manner of an exp…

NRS 120.200 Scope. This chapter applies to disclaimers of any interest in or power over property, whenever created. (Added to NRS by 2007, 279)

NRS 120.210 Chapter supplemented by other law. 1. Unless displaced by a provision of this chapter, the principles of law and equity supplement this chapter. 2. This chapter does not limit any right of a person to waive, release, disclaim or renounce an interest in or power over p…

NRS 120.220 Power to disclaim; general requirements; when irrevocable. 1. A person may disclaim, in whole or part, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provi…

NRS 120.230 Disclaimer of interest in property. 1. Except for a disclaimer governed by NRS 120.240 or 120.250, the following rules apply to a disclaimer of an interest in property: (a) The disclaimer takes effect as of the time the instrument creating the interest becomes irrevoc…

NRS 120.240 Disclaimer of rights of survivorship in jointly held property. 1. Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or part, the greater of: (a) A fractional share of the property determined by dividing the number 1 by the …

NRS 120.250 Disclaimer of interest by trustee. If a trustee disclaims an interest in property that otherwise would have become trust property, the interest does not become trust property. (Added to NRS by 2007, 280)

NRS 120.260 Disclaimer of power of appointment or other power not held in fiduciary capacity. If a holder disclaims a power of appointment or other power not held in a fiduciary capacity, the following rules apply: 1. If the holder has not exercised the power, the disclaimer take…

NRS 120.270 Disclaimer by appointee, object or taker in default of exercise of power of appointment. 1. A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irr…

NRS 120.280 Disclaimer of power held in fiduciary capacity. 1. If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. 2. If a fiduciary disclaims…

NRS 120.290 Delivery or filing. 1. Subject to subsections 2 to 11, inclusive, delivery of a disclaimer may be effected by personal delivery, first-class mail or any other method likely to result in its receipt. 2. In the case of an interest created under the law of intestate succ…

NRS 120.300 When disclaimer barred or limited. 1. A disclaimer is barred by a written waiver of the right to disclaim. 2. A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective: (a) The disclaimant accepts th…

NRS 120.310 Tax qualified disclaimer. Notwithstanding any other provision of this chapter, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated pursuant to the provisions of Title 26 of the United States Code, as now or hereafter amended, o…

NRS 120.320 Recording of disclaimer. If an instrument transferring an interest in or power over property subject to a disclaimer is required or permitted by law to be filed, recorded or registered, the disclaimer may be so filed, recorded or registered. Except as otherwise provid…

NRS 120.330 Application to existing relationships. Except as otherwise provided in NRS 120.300, an interest in or power over property existing on October 1, 2007, as to which the time for delivering or filing a disclaimer under law superseded by this chapter has not expired may b…

NRS 120.340 Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. §§ 7001 et seq., but does not modify, limit or supersede section 101(c)…

NRS 120.350 Uniformity of application and construction. In applying and construing the Uniform Disclaimer of Property Interests Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (Added to N…