NRS 163.002
Creation: Methods

  • certain property deemed trust property.

1.

Except as otherwise provided by specific statute, a trust may be created by any of the following methods:

(a)

A declaration by the owner of property that he or she or another person holds the property as trustee. In the absence of a contrary declaration by the owner of the property or of a transfer of the property to a third party and regardless of formal title to the property:

(1)

Property declared to be trust property, together with all income therefrom and the reinvestment thereof, must remain trust property; and

(2)

If the property declared to be trust property includes an account, contract, certificate, note, judgment, business interest, contents of a safe deposit box or other property interest that is subject to additions or contributions, all subsequent additions and contributions to the property are also trust property.

(b)

A transfer of property by the owner during his or her lifetime to another person as trustee.

(c)

A testamentary transfer of property by the owner to another person as trustee.

(d)

An exercise of a power of appointment in trust.

(e)

An enforceable promise to create a trust.

2.

A declaration pursuant to paragraph (a) of subsection 1 may include a schedule or list of trust assets that is signed by the owner of the property or that is incorporated by reference into a document that is signed by the owner of the property.

Source: Section 163.002 — Creation: Methods; certain property deemed trust property., https://www.­leg.­state.­nv.­us/NRS/NRS-163.­html#NRS163Sec002.

Last Updated

May 10, 2025

§ 163.002’s source at nv​.us