Terms Used In Nevada Revised Statutes > Chapter 167 - Transfers to Minors (Uniform Act)

• Adult: means a person who has attained the age of 18 years. See Nevada Revised Statutes 167.020
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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}
• Broker: means a person lawfully engaged in the business of effecting transactions in securities or commodities for his or her own account or for the account of others. See Nevada Revised Statutes 167.020
• Conservator: means a person appointed or qualified by a court to act as general, limited or temporary guardian of a minor"s property or any other person legally authorized to perform substantially the same functions. See Nevada Revised Statutes 167.020
• Contract: A legal written agreement that becomes binding when signed.
• controlled substance: means a drug, immediate precursor or other substance which is listed in schedule I, II, III, IV or V for control by the State Board of Pharmacy pursuant to Nevada Revised Statutes 0.031
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Court: means the district court. See Nevada Revised Statutes 167.020
• Custodial property: means :

  (a) Any interest in property transferred to a custodian in a manner prescribed in this chapter; and

  (b) The income from and the proceeds of that interest in property. See Nevada Revised Statutes 167.020

• Custodian: means a person so designated in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Financial institution: means a bank, trust company, savings institution or credit union chartered and supervised under federal law or the laws of a state. See Nevada Revised Statutes 167.020
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
• Legal representative: means a personal representative or conservator. See Nevada Revised Statutes 167.020
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Minor: means a person who has not attained the age of 18 years. See Nevada Revised Statutes 167.020
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: means any natural person, corporation, organization or other legal entity. See Nevada Revised Statutes 167.020
• Personal property: All property that is not real property.
• Personal representative: means an executor, administrator, successor personal representative or special administrator of a decedent"s estate or any other person legally authorized to perform substantially the same functions. See Nevada Revised Statutes 167.020
• population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Nevada Revised Statutes 0.050
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or possession subject to the legislative authority of the United States. See Nevada Revised Statutes 167.020
• Statute: A law passed by a legislature.
• Testator: A male person who leaves a will at death.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Transfer: means a transaction which creates custodial property in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
• Transferor: means a person who makes a transfer in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust company: means a financial institution, corporation or other legal entity authorized to exercise general trust powers. See Nevada Revised Statutes 167.020