Nevada Revised Statutes 488.1807 – Endorsement of certificate upon transfer of title or interest of legal owner; exception
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Except for transfers to a beneficiary pursuant to the provisions of NRS 488.1794, upon transfer of the title or any interest of any legal owner in any power-driven vessel numbered under this chapter, the transferor shall write his or her signature, and the transferee shall write his or her signature and address, in the appropriate spaces provided upon the reverse side of the certificate of ownership issued for such power-driven vessel.
Terms Used In Nevada Revised Statutes 488.1807
- 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
- Legal owner: means a secured party under a security agreement relating to a vessel or a renter or lessor of a vessel to the State or any political subdivision of the State under a lease or an agreement to lease and sell or to rent and purchase which grants possession of the vessel to the lessee for a period of 30 consecutive days or more. See Nevada Revised Statutes 488.035
- Power-driven vessel: means any vessel propelled by machinery, whether or not the machinery is the principal source of propulsion. See Nevada Revised Statutes 488.035
- Vessel: means every description of watercraft, other than a seaplane on the water, used or capable of being used as a means of transportation on water. See Nevada Revised Statutes 488.035