NRS 111.767
Rights of designated beneficiaries

transfer of property when no beneficiary survives owner.

1.

Before the death of the owner, a designated beneficiary has no rights in the property by reason of the beneficiary designation and the signature or agreement of the beneficiary is not required for any transaction respecting the property.

2.

On the death of one of two or more joint owners, property with respect to which a beneficiary designation has been made belongs to the surviving joint owner or owners and the right of survivorship continues as between two or more surviving joint owners.

3.

On the death of a sole owner, property passes by operation of law to the beneficiary.

4.

If two or more beneficiaries survive, there is no right of survivorship among the beneficiaries in the event of the death of a beneficiary thereafter unless the beneficiary designation expressly provides for survivorship among them and, unless so expressly provided, surviving beneficiaries hold their separate interests in the property as tenants in common. The share of any subsequently deceased beneficiary belongs to that beneficiary’s estate.

5.

If no beneficiary survives the owner, the property belongs to the estate of the owner.

Source: Section 111.767 — Rights of designated beneficiaries; transfer of property when no beneficiary survives owner., https://www.leg.state.nv.us/NRS/NRS-111.html#NRS111Sec767.

111.751
Provision for nonprobate transfer in contract. 111.753
Authority of agent to make nonprobate transfer of property after death of owner. 111.755
Agreement between owner and transferring entity 111.757
Transfer to designated beneficiary according to beneficiary designation or other direction. 111.759
Proper execution and delivery required for transfer of property upon death of owner. 111.761
Proper execution and delivery or acknowledgment required for assignment of right to receive performance effective upon death of owner 111.763
Proper execution and acknowledgment required to transfer interest in tangible personal property effective upon death of owner 111.765
Property held in beneficiary form: Direct transfer 111.767
Rights of designated beneficiaries 111.769
Revocation of beneficiary designation: Authorized unless expressly made irrevocable 111.771
Property held in beneficiary form 111.773
Disqualification of beneficiary. 111.775
Authority of agent, guardian or other fiduciary to change beneficiary designation. 111.777
Rights of beneficiary if property lost, destroyed, damaged or converted during owner’s lifetime. 111.779
Liability of nonprobate transferee 111.781
Effect of divorce or annulment on nonprobate transfer of property

Last Updated

Jun. 24, 2021

§ 111.767’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_111.767

Original Source: Section 111.767 — Rights of designated beneficiaries; transfer of property when no beneficiary survives owner., https://www.leg.state.nv.us/NRS/NRS-111.html#NRS111Sec767 (last accessed Jun. 24, 2021).