Nevada Deed in Lieu of Prior Deed to Correctly Identify the Amount of Interest intended to Be Conveyed
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FAQ
A habendum clause is section of a contract that deals with rights, interests, and other aspects of ownership given to one of the parties in land deals. In real estate leases, the habendum clause deals with the lessee's rights and interests.
As with any conveyance of real estate, a gift deed requires a complete legal description of the parcel. Recite the source of title to establish a clear chain of title, and detail any restrictions associated with the property. A Declaration of Value form must accompany all real property documents.
If the trial court finds the grantor intended the deed to take effect at some point in the future, or if the trial court finds the grantor thought the deed would not be effective until some subsequent act was performed, then there was no delivery and the deed is void and ineffective.
Essential Elements of a Valid Deed Competent parties: grantor and grantee. Words of grant or operative words of conveyance. Sufficient description of the property to be conveyed. Proper execution.
The Grantee and Grantor are jointly and severally liable for the payment of the tax.
The declaration of value is a document that must accompany any deed presented for recording. NRS 375.060 is the statute that pertains to this requirement and may not be waived.
A conveyance of Nevada real estate must be evidenced by a deed signed by a property owner of lawful age or by the owner's authorized agent or attorney. Nevada law assumes that a deed transfer's the owner's entire interest?including any water rights or after-acquired title?unless the deed expressly limits the transfer.
RPTT is Typically Paid by The Transferor of Real Property.
