This text of Nevada § 155.0975 (Exceptions to presumption that certain transfers are void) 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.
The presumption established by NRS 155.097 does not apply:
1.To the spouse of the transferor.
2.To a transfer of property which is triggered by the transferor’s death if the transferee is an heir of the transferor and the combined value of all transfers received by that transferee is not greater than the share the transferee would be entitled to pursuant to chapter 134 of NRS if the testator had died intestate and the transferor’s estate included all nonprobate transfers which are triggered by the death of the transferor.
3.Except as otherwise provided in this subsection, if the court determines, upon clear and convincing evidence, that the transfer was not the product of fraud, duress or undue influence. The determination of the court pursuant to this subsection must not be based solel
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The presumption established by NRS 155.097 does not apply:
1. To the spouse of the transferor.
2. To a transfer of property which is triggered by the transferor’s death if the transferee is an heir of the transferor and the combined value of all transfers received by that transferee is not greater than the share the transferee would be entitled to pursuant to chapter 134 of NRS if the testator had died intestate and the transferor’s estate included all nonprobate transfers which are triggered by the death of the transferor.
3. Except as otherwise provided in this subsection, if the court determines, upon clear and convincing evidence, that the transfer was not the product of fraud, duress or undue influence. The determination of the court pursuant to this subsection must not be based solely upon the testimony of a person described in subsection 2 of NRS 155.097 .
4. If the transfer instrument is reviewed by an independent attorney who:
(a) Counsels the transferor about the nature and consequences of the intended transfer;
(b) Attempts to determine if the intended consequence is the result of fraud, duress or undue influence; and
(c) Signs and delivers to the transferor an original certificate of that review in substantially the following form:
CERTIFICATE OF INDEPENDENT REVIEW
I, .............................. (attorney’s name), have reviewed .............................. (name of transfer instrument) and have counseled my client, .............................. (name of client), on the nature and consequences of the transfer or transfers of property to .............................. (name of transferee) contained in the transfer instrument. I am disassociated from the interest of the transferee to the extent that I am in a position to advise my client independently, impartially and confidentially as to the consequences of the transfer. On the basis of this counsel, I conclude that the transfer or transfers of property in the transfer instrument that otherwise might be invalid pursuant to NRS 155.097 are valid because the transfer or transfers are not the product of fraud, duress or undue influence.
................................................................................
(Name of Attorney) (Date)
5. To a transferee that is:
(a) A federal, state or local public entity; or
(b) An entity that is recognized as exempt under section 501(c)(3) or 501(c)(19) of the Internal Revenue Code, 26 U.S.C. § 501(c)(3) or 501(c)(19), or a trust holding an interest for such an entity but only to the extent of the interest of the entity or the interest of the trustee of the trust.
6. To a transfer of property if the fair market value of the property does not exceed $3,000. The exclusion provided by this subsection does not apply more than once in each calendar year to transfers made during the transferor’s lifetime. For the purposes of this subsection, regardless of the number of transfer instruments involved, the value of property transferred to a transferee pursuant to a transfer that is triggered by the transferor’s death must include the value of all property transferred to that transferee or for such transferee’s benefit after the transferor’s death.