Nevada Revised Statutes 111.753 – Authority of agent to make nonprobate transfer of property after death of owner
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For the purpose of discharging its duties under NRS 111.751 to 111.779, inclusive, the authority of a transferring entity acting as agent for an owner of property subject to a nonprobate transfer does not cease at the death of the owner. The transferring entity shall transfer the property to the designated beneficiary in accordance with the contract between the transferring entity and the deceased owner and with NRS 111.751 to 111.779, inclusive.
Terms Used In Nevada Revised Statutes 111.753
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.