reglab/housing_qa huggingface dataset:
NV Rev Stat § 164.925 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.925 - Adjustments between principal and income to offset shifting economic interests or tax benefits between income beneficiaries and remainder beneficiaries; reimbursement of principal if estate taxes are increased and income taxes are decreased under certain circumstances.

  1. A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from:  (a) Elections and decisions, other than those described in subsection 2, that the fiduciary makes from time to time regarding tax matters;  (b) An income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or the trust; or  (c) The ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, the trust or a beneficiary.  2. If the amount of an estate tax marital deduction or charitable contribution deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes, and as a result estate taxes paid from principal are increased and income taxes paid by an estate, trust or beneficiary are decreased, each estate, trust or beneficiary that benefits from the decrease in income tax shall reimburse the principal from which the increase in estate tax is paid. The total reimbursement must equal the increase in the estate tax to the extent that the principal used to pay the increase would have qualified for a marital deduction or charitable contribution deduction but for the payment. The proportionate share of the reimbursement for each estate, trust or beneficiary whose income taxes are reduced must be the same as its proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.  (Added to NRS by 2003, 1981)
NV Rev Stat § 164.940 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.940 - Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved.

  1. Except as otherwise provided in this section, a settlement agreement entered into by all indispensable parties, as described in subsection 1 of NRS 164.942 is enforceable with respect to the administration of a trust without approval by the court, as defined in NRS 132.116.  2. A nonjudicial settlement agreement is void to the extent it violates a material purpose of the trust and to the extent it includes terms and conditions that could not be properly approved by the court, as defined in NRS 132.116, under the law governing the trust instrument.  3. Matters that may be resolved by a nonjudicial settlement agreement include, without limitation:  (a) The investment or use of trust assets;  (b) The lending or borrowing of money;  (c) The addition, deletion or modification of a term or condition of the trust;  (d) The interpretation or construction of a term of the trust;  (e) The designation or transfer of the principal place of administration of the trust;  (f) The approval of a trustee’s report or accounting;  (g) The choice of law governing the construction of the trust instrument or administration of the trust, or both;  (h) Direction to a trustee to perform or refrain from performing a particular act;  (i) The granting of any necessary or desirable power to a trustee;  (j) The resignation or appointment of a trustee and the determination of a trustee’s compensation;  (k) The merger or division of trusts;  (l) The granting of approval or authority, for a trustee to make charitable gifts from a noncharitable trust;  (m) The transfer of a trust’s principal place of administration;  (n) Negating the liability of a trustee for an action relating to the trust and providing indemnification therefor; and  (o) The termination of the trust.  (Added to NRS by 2015, 3550)
NV Rev Stat § 164.942 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.942 - Nonjudicial settlement agreements: When effective; providing objections; notice of proposed action; failure to object constitutes acceptance; petitioning court for approval.

  1. Except as otherwise provided in this section, a nonjudicial settlement agreement is effective when the agreement has been signed by all indispensable parties. A party who is represented by another person pursuant to NRS 164.038 shall be deemed to have signed an agreement when the person who represents that party has signed the agreement.  2. Except as otherwise provided in this section, if an indispensable party neither signs the agreement nor provides the trustee with a written objection, the trustee may follow the procedure provided in NRS 164.725 by giving a notice of proposed action to all indispensable parties who have not signed the settlement agreement, where the proposed action is to accept and comply with the nonjudicial settlement agreement.   3. Failure to object to the notice of proposed action constitutes acceptance of the settlement agreement. If the trustee is personally aware that an indispensable party, or a person representing that indispensable party under NRS 164.038, has not received the notice of proposed action, the trustee may not proceed to honor the agreement pursuant to subsection 6 of NRS 164.725, but may proceed under subsection 7 of NRS 164.725 as if that indispensable party had objected. Once all indispensable parties have agreed to a settlement agreement as provided in subsection 1 or 2, it is irrevocable.  4. Any indispensable party may petition the court for an order approving a nonjudicial settlement agreement under the procedure set forth in NRS 164.015. In order to approve a nonjudicial settlement, the court must find that the agreement complies with the requirements of this section and NRS 164.940.  5. For the purposes of this section, "indispensable parties" refers to all interested persons, as defined in NRS 132.185, whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.  (Added to NRS by 2015, 3550)
NV Rev Stat § 164.950 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.950 - Distribution by trustee of community property in nontestamentary trust established by married settlors.

  1. If two settlors who are married establish a nontestamentary trust jointly, and the trust provides for the pecuniary or fractional division of the community property held by the settlors upon the death of one of the settlors, the trustee has the authority to distribute the community property unless the trust instrument expressly provides otherwise. The trustee may distribute the community property on a non-pro rata basis so long as the fair market value of the distribution is, at the time of the distribution, the same as if the distribution were made pro rata. The provisions of this section do not affect the distribution of assets that are specifically allocated in the trust instrument to be distributed in kind.  2. As used in this section, "nontestamentary trust" has the meaning ascribed to it in NRS 163.0016.  (Added to NRS by 2009, 798; A 2015, 3555)
NV Rev Stat § 164.960 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.960 - Applicability of NRS 111.781 to transfers of property made pursuant to trust.

The provisions of NRS 111.781 concerning the revocation of certain transfers based upon divorce or annulment apply to transfers of property made pursuant to a trust.  (Added to NRS by 2011, 1469)
NV Rev Stat § 165.010 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.010 - Short title.

This chapter shall be cited as the Uniform Trustees’ Accounting Act.  [24:135:1941; 1931 NCL § 7718.23]
NV Rev Stat § 165.030 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.030 - Request for list of assets of trust estate.

An interested person to whom a trustee is required to account pursuant to this chapter may provide a written request to the trustee at any time 60 days or more after the appointment of the trustee which seeks a list of the assets of the trust estate known to the trustee. The trustee shall serve the information to the requesting interested party in the same manner required for notice, as set forth in NRS 155.010 within 15 days after receipt of the written request.  [2:135:1941; 1931 NCL § 7718.01] — (NRS A 1975, 1781; 1999, 2381; 2015, 3560; 2017, 1697)
NV Rev Stat § 165.1201 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.1201 - Applicability to testamentary trusts; general duties of trustee.

  1. Except as otherwise provided in this chapter, the provisions of NRS 165.1204 apply to a testamentary trust.  2. Except as otherwise provided by the will creating a testamentary trust or by a court order, until the termination of a testamentary trust, the trustee shall account for the income and principal of a testamentary trust in the same manner as required by a trustee of a nontestamentary trust pursuant to NRS 165.1201 to 165.148, inclusive.  (Added to NRS by 2015, 3556)
NV Rev Stat § 165.1204 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.1204 - Applicability to nontestamentary trusts; general duties of trustee.

  1. The trustee of a nontestamentary trust has a duty to account for the trust estate in accordance with the provisions of NRS 165.1201 to 165.148, inclusive.  2. The trustee of a nontestamentary trust shall satisfy the duty to account by delivery of an account in the form, manner and to the persons as required by the terms and conditions stated in the trust instrument.  (Added to NRS by 2015, 3556)
NV Rev Stat § 165.121 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.121 - Waiver of right to receive account.

Notwithstanding the provisions of NRS 165.1201 to 165.148, inclusive, any beneficiary may waive the right to receive an account from a trustee by delivering to the trustee a waiver signed by the beneficiary. The waiver may be a limited waiver as to the form of the account, of the right to seek a hearing on the account, or of the right to receive notice of a hearing on the account. Such waiver is applicable to the beneficiary and any other beneficiaries who are represented by the waiving beneficiary pursuant to NRS 164.038 or by order of the court.  (Added to NRS by 2015, 3557)
NV Rev Stat § 165.138 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.138 - Written demand for account by beneficiary: General duties of trustee; power to provide account or information without demand.

  1. Notwithstanding any provision to the contrary in the trust instrument, but subject to the right of the trustee to petition the court for further instructions pursuant to subsection 2 of NRS 165.148, and subject to the exceptions set forth under paragraph (b) of subsection 1 of NRS 165.1207, a trustee shall provide an account conforming with the requirements of NRS 165.135 to a beneficiary pursuant to a demand by such beneficiary pursuant to NRS 165.141.  2. A trustee, at the expense of the trust, may provide:  (a) An account to one or more beneficiaries at any time, with or without demand; and  (b) More information to beneficiaries, including, without limitation, remote beneficiaries, than is required under the trust instrument or by law.  (Added to NRS by 2015, 3557)
NV Rev Stat § 165.141 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.141 - Written demand for account by beneficiary: Acceptance or rejection of demand by trustee; limitations on right to demand account.

A beneficiary who has not otherwise been provided with an account pursuant to this chapter may send a written demand for an account to the trustee in accordance with the following procedure:  1. The demand on the trustee must be sent to the trustee or to the trustee’s attorney of record and the demand must include, without limitation:  (a) The identity of the demanding beneficiary, including the beneficiary’s mailing address or the address of the beneficiary’s attorney;  (b) The accounting period for which an account is demanded; and  (c) The nature and extent of the account demanded and the legal basis for the demand.  2. Within 14 days after the trustee has received a demand for an account from a beneficiary, the trustee shall notify the demanding beneficiary of the trustee’s acceptance or rejection of the demand or that the trustee intends to seek instructions from the court pursuant to subsection 2 of NRS 165.148 regarding the sufficiency of the demand or the right of the beneficiary to receive an account. The trustee shall:  (a) Provide an account within 60 days after receipt of the demand, unless that time is modified by consent of the beneficiary or by order of the court if the trustee accepts the beneficiary’s demand for an account;  (b) Set forth the grounds for rejecting the beneficiary’s demand for an account in the notice of rejection and inform the beneficiary that the beneficiary has 60 days in which to petition the court to review the rejection if the trustee rejects the beneficiary’s demand for an account; or  (c) File a petition with the court pursuant to NRS 164.015 seeking instructions from the court pursuant to subsection 2 of NRS 165.148 regarding the sufficiency of the demand or the right of the beneficiary to receive an account within 15 days after the receipt of the demand if the trustee intends to seek instructions from the court.  3. The demand by the beneficiary and the notice of the trustee’s action thereon must be delivered by first-class mail, personal delivery or commercial carrier. If delivery of the demand or of the notice is in dispute, proof of delivery may be established by a return receipt or other proof of delivery provided by the person making the delivery or by affidavit of the person who arranged for the delivery setting forth the delivery address, the method of delivery arranged for and the actions taken by that person to arrange for the delivery.  4. If the trustee fails to accept, reject or seek instructions concerning a beneficiary’s demand for an account as required by subsection 2, the beneficiary’s demand shall be deemed rejected.  5. A beneficiary is not entitled to demand an account pursuant to this section if the accounting period for which the demand is made is deemed final pursuant to subsection 4 of NRS 165.1214.  (Added to NRS by 2011, 1474; A 2015, 3563)
NV Rev Stat § 165.143 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.143 - Petition to review trustee’s rejection of written demand for account; time to file; notice; hearing.

  1. A beneficiary whose demand for an account in compliance with NRS 165.141 is rejected or deemed rejected must file a petition seeking the court’s review of the trustee’s rejection within 60 days after the rejection date as described in subsection 2 and is thereafter barred from further right to demand an account for the period subject to the demand. A petition filed pursuant to this section may also seek additional relief pursuant to NRS 153.031, 164.015 and 164.030.  2. If the trustee rejects the beneficiary’s demand for an account, the rejection date is the date on which the trustee provides the beneficiary with a notice of rejection. If the trustee fails to accept or reject the beneficiary’s demand, the rejection date is deemed to be 14 days after the beneficiary delivered the demand to the trustee.  3. If the court has not previously accepted jurisdiction over the trust pursuant to NRS 164.010, the beneficiary must petition the court to confirm the appointment of the trustee pursuant to NRS 164.010 and to admit the trust to the jurisdiction of the court. Such a petition may be combined with the petition for the court’s review of the trustee’s rejection.  4. The clerk shall set the petition for hearing, and the petitioner shall give notice to all interested persons for the period and in the manner provided in NRS 155.010. The notice must state the filing of the petition, the object and the time and place of the hearing.  5. If one or more other beneficiaries with interests substantially similar to the petitioner request to join the petition at or before the hearing, the court shall consider the other beneficiaries to be additional petitioners without requiring those beneficiaries to file separate petitions or to give separate notices of the hearing.  6. At the hearing, as to each petitioner, the court may enter an order:  (a) Compelling the trustee to provide an account to the petitioner and specifying the nature and extent of the account to be provided;  (b) Declaring that the petitioner is not entitled to an account and setting forth the reason or reasons the petitioner is not so entitled; or  (c) Compelling the trustee to provide an account to the petitioner as described in paragraph (a) and authorizing an independent review of the account using the procedure set forth in NRS 165.145.  7. Except as otherwise provided in subsection 3 of NRS 153.031, each petitioner shall pay his or her own expenses, including, without limitation, attorney’s fees, that arise in conjunction with filing a petition pursuant to this section.  (Added to NRS by 2011, 1474; A 2015, 3564)
NV Rev Stat § 165.147 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.147 - Requirement to provide copy of trust instrument to beneficiary entitled to receive account.

  1. Upon demand by a beneficiary pursuant to NRS 165.141 who is entitled to receive an account pursuant to the terms of NRS 165.1201 to 165.148, inclusive, a trustee shall provide a copy of the trust instrument to that beneficiary except as expressly provided otherwise in the trust instrument.  2. Notwithstanding the provisions of subsection 1 or any provision to the contrary in the trust instrument, the court may direct the trustee to provide a beneficiary who is entitled to receive an account pursuant to the terms of NRS 165.1201 to 165.148, inclusive, a copy of the trust instrument, or such portions as the court deems to be pertinent to the determination of the adequacy of the trustee’s account and to the enforcement of the beneficiary’s rights under the trust.  3. Except as otherwise provided in NRS 165.145 or by order of the court for good cause shown, the trustee must not be compelled to provide a copy of the trust instrument to a person who is not a beneficiary of the trust or a person who is not entitled to an account of the trust pursuant to the provisions of NRS 165.1201 to 165.148, inclusive.  (Added to NRS by 2011, 1476; A 2015, 3566)
NV Rev Stat § 165.148 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.148 - Personal liability of trustee for failing to provide account; exceptions.

  1. Unless the court determines that the trustee was acting in good faith, a trustee who fails to provide an account pursuant to the terms of the trust instrument, or when required pursuant to the provision of this chapter, is personally liable to each person entitled to receive an account who demanded the account in writing pursuant to this chapter or all costs reasonably incurred by each such person to enforce the terms of the trust or this chapter, including, without limitation, reasonable attorney’s fees and court costs. The trustee shall not expend trust funds to satisfy the trustee’s personal liability imposed under this subsection.  2. Notwithstanding subsection 1, if the trustee’s failure to account is based upon good cause due to the trustee’s reasonable uncertainty as to the beneficiary’s right to an account or by a provision in the trust instrument that specifically restricts or prohibits the trustee from providing an account to a beneficiary who is otherwise entitled to an account, then the trustee may, at the expense of the trust estate, bring a petition for instructions before the court to confirm:  (a) The right of the beneficiary to receive an account;  (b) The right of and sufficiency of a demand for an account by a beneficiary; or  (c) The extent of account required to satisfy the trustee’s duty to account to such beneficiary, if any, including the sufficiency of a confidential account pursuant to NRS 165.145.  (Added to NRS by 2015, 3558)
NV Rev Stat § 165.149 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.149 - Limitations on duties and liability of person with power of appointment.

Except as otherwise provided in a trust instrument, a person holding a power of appointment pursuant to a nontestamentary trust does not owe a fiduciary duty to any person and is not liable to any person with respect to the exercise or nonexercise of the power of appointment.  (Added to NRS by 2011, 1477)
NV Rev Stat § 165.150 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.150 - Duties of clerks and courts.

The clerks of the district courts shall severally keep records of all trust inventories and accounts filed with their respective courts. Those courts shall, upon learning that a trustee subject to their respective jurisdictions has failed to perform any duty placed upon the trustee by this chapter, issue a citation or order to the trustee requiring him or her to perform that duty.  [14:135:1941; 1931 NCL § 7718.13] — (NRS A 1999, 2385)
NV Rev Stat § 165.160 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.160 - Trust instrument.

Repealed. (See chapter 309, Statutes of Nevada 2019, at page 1874.)
NV Rev Stat § 165.170 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.170 - Power of beneficiary.

Any beneficiary, if of full age and sound mind, may, if acting upon full information, by written instrument delivered to the trustee, excuse the trustee as to such beneficiary from performing any of the duties imposed on the trustee by this chapter or exempt the trustee from liability to such beneficiary for failure to perform any of the duties imposed upon the trustee by the terms of this chapter.  [16:135:1941; 1931 NCL § 7718.15]
NV Rev Stat § 165.180 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.180 - Accountability of trustees at other times.

This chapter does not abridge the power of any court of competent jurisdiction to require testamentary or nontestamentary trustees to file an inventory, to account, to exhibit the trust property, or to give beneficiaries information or the privilege of inspection of trust records and papers, at times other than those prescribed in this chapter, or abridge the power of the court for cause shown to excuse a trustee from performing any or all of the duties imposed on the trustee by this chapter. This chapter does not preclude the trustee from accounting voluntarily even if he or she is not required to do so by this chapter or by court order.  [17:135:1941; 1931 NCL § 7718.16] — (NRS A 1999, 2385)
NV Rev Stat § 165.190 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.190 - Enforcement.

A beneficiary may petition the court having jurisdiction over the accountings, as prescribed in this chapter, for an order requiring the trustee to perform the duties imposed upon the trustee by this chapter.  [18:135:1941; 1931 NCL § 7718.17] — (NRS A 1999, 2385)
NV Rev Stat § 165.200 (2021)
2021 Nevada Revised Statutes|Chapter 165 - Trustees’ Accounting (Uniform Act)|NRS 165.200 - Penalties for violation of chapter.

When a trustee fails to perform any of the duties imposed upon the trustee by this chapter the trustee may be removed, the trustee’s compensation may be reduced or forfeited, or other civil penalty inflicted, in the discretion of the court.  [19:135:1941; 1931 NCL § 7718.18]