Nevada Property

Front 1

Statutory Modification to Rule Against Perpetuities

Back 1

An interest must terminate or vest within 365 years.

Front 2

Nevada Follows Lien Theory

Back 2

The mortgagee is considered the holder of a security interest only, and the mortgagor is deemed the owner of the land until foreclosure. The mortgagee may not have possession before foreclosure.

Front 3

Inter Vivos Conveyance of Homestead Property

Back 3

One spouse may not convey joint tenancy homestead property without consent of the other.

Front 4

Inter Vivos Conveyance of Joint Tenancy

Back 4

One joint tenant's inter vivos conveyance of his interest in the property destroys the joint tenancy.

Front 5

Termination of Leasehold by Domestic Violence

Back 5

A tenant who is a victim of domestic violence may terminate a lease at the conclusion of the current rental period (or in 30 days, whichever is less) by giving the landlord notice and proof of the domestic violence.

Front 6

Landlord Right to Accept Rent After Breach

Back 6

A landlord has the right to accept rent after breach when the landlord timely expresses his intent to terminate the lease and the tenant nevertheless remains in possession.

Front 7

Landlord Remedies for Tenant Abandonment

Back 7

If the landlord has notice that the tenant has abandoned, the landlord may dispose of the tenant's personal property and take possession. Absent notice, a tenant is presumed to have abandoned if the tenant is absent from the premises for half the time of periodic rental payments unless the rent is current or the tenant notified the landlord in writing of an intended absence.

Front 8

Statutory Warranty of Habitability

Back 8

To recover for breach, tenant must deliver a written notice to landlord specifying how the landlord has failed to maintain her dwelling unit in a habitable condition, and requesting the same. If the landlord does not use his best efforts to remedy the failure within 14 days, the tenant may:

1. immediately terminate the lease;

2. recover actual damages;

3. apply to the court for relief; or

4. withhold rent.

Front 9

Implied Easement by Necessity

Back 9

1. Prior common ownership;

2. apparent and continuous use; and

3. reasonable necessity

Front 10

Reasonable Necessity

Back 10

Strict necessity is not required, but the necessity must be inspired by something significantly greater than mere inconvenience.

Front 11

Prescriptive Easement

Back 11

Created by five years of adverse, continuous, open, and peaceable use of land, with the user asserting a claim of right to use the land. The claimant must establish by clear and convincing evidence that the easement exists.

Front 12

Relocation of Easement

Back 12

Nevada permits the servient estate holder to relocate an easement as long as:

1. no instrument creating the easement already defines its location and dimensions; and

2. relocation does not materially inconvenience the dominant estate holder.

Front 13

Equitable Defenses to Enforcement of Easement

Back 13

For community violations of an equitable servitude to constitute changed neighborhood conditions or abandonment, they must be general and substantial enough to frustrate the original purpose of the covenant.

Front 14

Actual and Exclusive Possession with Color of Title (for Purposes of Adverse Possession)

Back 14

The occupant's ordinary use of the land or cultivation, enclosure, or improvement of it will constitute possession.

Front 15

Actual and Exclusive Possession without Color of Title (for Purposes of Adverse Possession)

Back 15

Possession is sufficient only if the land is protected by a substantial enclosure or usually cultivated or improved.

Front 16

Time of Possession (for Purposes of Adverse Possession)

Back 16

If an adverse party is asserting possession against a known claimant, the necessary period of possession is five years. An adverse party must possess the property for 15 years to assert his rights against all claimants, known and unknown.

Front 17

Payment of Property Taxes (for Purposes of Adverse Possession)

Back 17

A claimant must pay all assessed taxes on the property for a period of five years to sustain an adverse possession claim, regardless of whether the claim is against known claimants only or against all claimants.

Front 18

Uniform Real Property Electronic Recording Act

Back 18

Gives each county recorder the option to accept electronic documents in addition to paper documents.

Front 19

Recording Act

Back 19

Nevada has a Race-Notice statute.

Front 20

Race-Notice Recording Statute

Back 20

A subsequent bona fide purchaser is protected only if she takes without notice and records before a prior grantee.

Front 21

Security Interests in Rent

Back 21

The holder of a mortgage or deed of trust has a security interest in rents arising from the mortgaged real property.

Front 22

Protection from Deficiency Judgment

Back 22

A court may not award a deficiency judgment if:

1. real property is a single-family dwelling;

2. debtor used money secured by mortgage to purchase the property;

3. debtor continuously occupied property as his principal residence;

4. debtor was owner at time of foreclosure;

5. debtor did not refinance mortgage; and

6. judgment creditor is a financial institution.

Front 23

One Action Rule

Back 23

The holder of the secured note must first exhaust security before action on the note and ancillary attachment is permitted.

Front 24

Foreclosure Notice to Tenants

Back 24

For a residential foreclosure, notice of sale must be given by:

1. posting on the premises; and

2. mailing to any occupying tenants a notice of the proceedings and of their rights, including the right to terminate the lease.

Front 25

Disclosure of Foreclosure to Prospective Tenants

Back 25

A landlord must disclose in writing if the property to be leased to a prospective tenant is the subject of any foreclosure proceedings.

Front 26

Prior Appropriation Doctrine

Back 26

In Nevada, if water rights are not expressly reserved by the seller at the time of conveyance, they accompany the land.

Front 27

Beneficial Use for Appropriation of Water

Back 27

In Nevada, a valid appropriation of water requires:

1. actual diversion;

2. intent to apply it to beneficial use; and

3. beneficial use following within a reasonable time.

Front 28

Anti-Speculation Doctrine

Back 28

Although water rights are freely alienable, Nevada's anti-speculation doctrine prevents someone from acquiring water rights by merely speculating and showing no beneficial use.

Front 29

Forfeiture of Water Rights

Back 29

Non-use for five years will effect a forfeiture of water rights.

However, substantial use of water rights after the period of nonuse cures the forfeiture so long as no claim or forfeiture proceeding has been made against the holder.

Front 30

Condemnation

Back 30

The remedy for a landowner whose land is condemned is payment of the fair market value, which is the highest price the property would bring on the open market.