NRS 115.005
Definitions.

As used in this chapter, unless the context otherwise requires:

1.

“Equity” means the amount that is determined by subtracting from the fair market value of the property the value of any liens excepted from the homestead exemption pursuant to subsection 3 of NRS 115.010 or NRS 115.090.

2.

“Homestead” means the property consisting of:

(a)

A quantity of land, together with the dwelling house thereon and its appurtenances;

(b)

A mobile home whether or not the underlying land is owned by the claimant; or

(c)

A unit, whether real or personal property, existing pursuant to chapter 116 or 117 of NRS, with any appurtenant limited common elements and its interest in the common elements of the common-interest community,
Ê to be selected by both spouses, or either of them, or a single person claiming the homestead.

Source: Section 115.005 — Definitions., https://www.­leg.­state.­nv.­us/NRS/NRS-115.­html#NRS115Sec005.

Last Updated

Jun. 24, 2021

§ 115.005’s source at nv​.us