Nevada § 333A.0904 Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages

Nevada Statutes

§ 333A.0904 — Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages

Nevada § 333A.0904

Title 27PUBLIC PROPERTY AND PURCHASING

Ch. 333APurchasing:

This text of Nevada § 333A.0904 (Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages) 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. § 333A.0904 (2026).

Text

For the period during which an installment-purchase contract or lease-purchase contract that was entered into to finance a performance contract is in effect, the property that is the subject of the installment-purchase contract or lease-purchase contract: 1. Is exempt from ad valorem property taxation by this State and its political subdivisions if:

(a)An improvement is being constructed on the property pursuant to the installment-purchase contract or lease-purchase contract; or

(b)This State or a using agency is in possession of the property. 2. Shall be deemed to be the property of this State or the using agency that is a party to the installment-purchase contract or lease-purchase contract for the purposes of statutory limits on damages that may be awarded against this State, includin

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For the period during which an installment-purchase contract or lease-purchase contract that was entered into to finance a performance contract is in effect, the property that is the subject of the installment-purchase contract or lease-purchase contract:
1. Is exempt from ad valorem property taxation by this State and its political subdivisions if:
(a) An improvement is being constructed on the property pursuant to the installment-purchase contract or lease-purchase contract; or
(b) This State or a using agency is in possession of the property.
2. Shall be deemed to be the property of this State or the using agency that is a party to the installment-purchase contract or lease-purchase contract for the purposes of statutory limits on damages that may be awarded against this State, including, without limitation, the limits in chapter 41 of NRS, with respect to any action or claim, including a claim for civil damages, that arises from or is related to the property and is brought by a person who is not a party to the installment-purchase contract or lease-purchase contract if:
(a) An improvement is being constructed on the property pursuant to the installment-purchase contract or lease-purchase contract; or
(b) This State or the using agency is in possession of the property.