Vesting in Nevada

VESTING in Las Vegas Nevada

Your offer to purchase will include a clause concerning vesting. This is the legal way that you wish to take title to the property. If you are not sure about your vesting, you may indicate on the offer that you will inform the escrow officer at the time of closing. This will presumably give you time to check with your attorney and/or accountant. The manner of vesting can have serious legal or tax consequences. Neither your escrow officer or real estate agent should advise you as to how you should acquire your vested interest.

Your vesting will contain 3 parts:

Part I... Your name(s)

Part II... Marital status ie. husband & wife or a single man/woman or an unmarried man/woman

Part III... Tenure of title
 

1. Individual, Sole & Separate (If married and acquiring title as his/her sole and separate property, the title company will require a Quit Claim Deed from the spouse.

2. Joint Tenants (This provides for right of survivorship)

3. Community Property

4. Community Property with Rights of Survivorship

5. Tenants in Common (if unequal undivided interest, specify percentages)

6. Trust: ________trustee, under ____________name of trust ______dated

7. Partnership: provide a copy of the Partnership Agreement, and a Certificate of Limited Partnership, if applicable.

8. Corporation: provide the State in which you are incorporated and a Corporate Resolution.

9. Other: ___________________________________

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