Taking title in Nevada
Vesting Options
The common ways to hold title to Nevada real estate — from sole and separate property to joint tenancy and community property with right of survivorship.
Educational only. Vesting has legal and tax consequences. Consult a Nevada-licensed attorney and, where appropriate, a CPA or tax professional before selecting a vesting option.
“Vesting” describes how you take and hold title to real property. Below are the common ways to hold title to Nevada real estate. The right choice depends on your circumstances and carries legal and tax consequences, so review your options with the appropriate professionals before you decide.
- A Single Man (never been married)
- A Single Woman (never been married)
- An Unmarried Man (divorced or widowed)
- An Unmarried Woman (divorced or widowed)
- Husband and Wife
- Wife and Husband
- Domestic Partner
- A married woman, and a married woman (married to each other)
- A married woman as her Sole and Separate Property (The Community Property Interest of Spouse to be conveyed)
- A married man as his Sole and Separate Property (The Community Property Interest of Spouse to be conveyed)
- Trust (Copy of trust to be provided to Title prior to close)
- Partnership (Statement of Partnership to be provided to Title prior to close)
- Corporation (Corporate Resolution to be provided to Title prior to close)
- Limited Liability Company (Copy of Operating Agreement, Articles of Organization & Cert of Good Standing).
- A married man, and a married man (married to each other)
- AS JOINT TENANTS (Upon death of one of the joint tenants, the property passes to the surviving joint tenant(s); it does NOT go through probate and it CANNOT be willed to an heir.)
- AS COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP (For Married couples or Domestic Partner) (Carries the benefit of survivorship in that it does NOT go through probate in the event of death; it CANNOT be willed to an heir.)
- AS HIS/HER SOLE AND SEPARATE PROPERTY (The interest of the spouse or Domestic Partner must be conveyed as Nevada is a “community property” state, and real property cannot be sold or encumbered without the spouse executing all documents evidencing consent. The spouse or Domestic Partner will execute a deed divesting themselves of any possible community property interest. CAN be willed; DOES require a probate in case of death.)
- AS TENANTS IN COMMON (Usually used by persons buying property together, but not married or Domestic Partner. Need to state the individual interest of the persons taking title, i.e. 50% – 50%, OR 75% – 25% etc. The ownership interest CAN be sold or willed in the case of death.