Nevada § 119A.460 Requirements for trusts

Nevada Statutes

§ 119A.460 — Requirements for trusts

Nevada § 119A.460

Title 10PROPERTY RIGHTS AND TRANSACTIONS

Ch. 119ATime

SALE OF TIME SHARES

This text of Nevada § 119A.460 (Requirements for trusts) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 119A.460 (2026).

Text

If a trust is created pursuant to subsection 3 of NRS 119A.430, the:

1.Trustee must be approved by the Administrator.

2.Trust must be irrevocable, unless otherwise provided by the Administrator.

3.Trustee must not be permitted to encumber the property unless permission to do so has been given by the Administrator.

4.Association or each owner must be made a third-party beneficiary.

5.Trustee must be required to give at least 30 days’ notice in writing of his or her intention to resign to the association, if it has been formed, and to the Administrator, and the Administrator must approve a substitute trustee before the resignation of the trustee may be accepted.

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If a trust is created pursuant to subsection 3 of NRS 119A.430, the:
1. Trustee must be approved by the Administrator.
2. Trust must be irrevocable, unless otherwise provided by the Administrator.
3. Trustee must not be permitted to encumber the property unless permission to do so has been given by the Administrator.
4. Association or each owner must be made a third-party beneficiary.
5. Trustee must be required to give at least 30 days’ notice in writing of his or her intention to resign to the association, if it has been formed, and to the Administrator, and the Administrator must approve a substitute trustee before the resignation of the trustee may be accepted.