reglab/housing_qa huggingface dataset:
NV Rev Stat § 166A.190 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.190 - Custodial trustee for future payment or transfer.

  1. A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: "as custodial trustee for _______________ (name of beneficiary) under the Nevada Uniform Custodial Trust Act."  2. Persons may be designated as substitute or successor custodial trustees to whom the property must be paid or transferred in the order named if the first designated custodial trustee is unable or unwilling to serve.  3. A designation under this section may be made in a will, a trust, a deed, a multiple-party account, an insurance policy, an instrument exercising a power of appointment or a writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation must be registered with or delivered to the fiduciary, payor, issuer or obligor of the future right.  (Added to NRS by 2007, 286)
NV Rev Stat § 166A.200 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.200 - Form and effect of receipt and acceptance by custodial trustee; jurisdiction.

  1. Obligations of a custodial trustee, including, without limitation, the obligation to follow the directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express or implied, of the custodial trust property.  2. The custodial trustee’s acceptance may be evidenced by a writing stating in substance: CUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCE  I, ____________ (name of custodial trustee), acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for _________ (name of beneficiary) under the Nevada Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Nevada Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is or becomes incapacitated. The custodial trust property consists of _________________________. Dated:______________________  (Signature of Custodial Trustee)  3. Upon accepting custodial trust property, a person designated as custodial trustee under this chapter is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.  (Added to NRS by 2007, 286)
NV Rev Stat § 166A.210 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.210 - Transfer to custodial trustee by fiduciary or obligor; facility of payment.

  1. Unless otherwise directed by an instrument designating a custodial trustee pursuant to NRS 166A.190, a person, including, without limitation, a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary’s family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds $20,000, the transfer is not effective unless authorized by the court.  2. A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.  (Added to NRS by 2007, 287)
NV Rev Stat § 166A.220 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.220 - Multiple beneficiaries; separate custodial trusts; survivorship.

  1. Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of a married couple, for whom survivorship is presumed, a right of survivorship does not exist unless the instrument creating the custodial trust specifically provides for survivorship or survivorship is required as to community or marital property.  2. Custodial trust property held under this chapter by the same custodial trustee for the use and benefit of the same beneficiary may be administered as a single custodial trust.  3. A custodial trustee of custodial trust property held for more than one beneficiary shall separately account to each beneficiary pursuant to NRS 166A.230 and 166A.310 for the administration of the custodial trust.  (Added to NRS by 2007, 287; A 2017, 786)
NV Rev Stat § 166A.230 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.230 - General duties of custodial trustee.

  1. If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property.  2. If the beneficiary is not incapacitated, a custodial trustee shall follow the directions of the beneficiary in the management, control, investment or retention of the custodial trust property. In the absence of effective contrary direction by the beneficiary while not incapacitated, the custodial trustee shall observe the standard of care that would be observed by a prudent person dealing with property of another and is not limited by any other law restricting investments by fiduciaries. However, a custodial trustee, in the custodial trustee’s discretion, may retain any custodial trust property received from the transferor. If a custodial trustee has a special skill or expertise or is named custodial trustee on the basis of representation of a special skill or expertise, the custodial trustee shall use that skill or expertise.  3. Subject to subsection 2, a custodial trustee shall take control of and collect, hold, manage, invest and reinvest custodial trust property.  4. A custodial trustee at all times shall keep custodial trust property of which the custodial trustee has control separate from all other property in a manner sufficient to identify it clearly as custodial trust property of the beneficiary. Custodial trust property, the title to which is subject to recordation, is so identified if an appropriate instrument so identifying the property is recorded, and custodial trust property subject to registration is so identified if it is registered, or held in an account in the name of the custodial trustee, designated in substance: "as custodial trustee for _______________ (name of beneficiary) under the Nevada Uniform Custodial Trust Act."  5. A custodial trustee shall keep records of all transactions with respect to custodial trust property, including, without limitation, information necessary for the preparation of tax returns, and shall make the records and information available at reasonable times to the beneficiary or legal representative of the beneficiary.  6. The exercise of a durable power of attorney for an incapacitated beneficiary is not effective to terminate or direct the administration or distribution of a custodial trust.  (Added to NRS by 2007, 287)
NV Rev Stat § 166A.240 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.240 - General powers of custodial trustee.

  1. A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.  2. This section does not relieve a custodial trustee from liability for a violation of NRS 166A.230.  (Added to NRS by 2007, 288)
NV Rev Stat § 166A.250 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.250 - Use of custodial trust property.

  1. A custodial trustee shall pay to the beneficiary or expend for the beneficiary’s use and benefit so much or all of the custodial trust property as the beneficiary while not incapacitated may direct from time to time.  2. If the beneficiary is incapacitated, the custodial trustee shall expend so much or all of the custodial trust property as the custodial trustee considers advisable for the use and benefit of the beneficiary and individuals who were supported by the beneficiary when the beneficiary became incapacitated, or who are legally entitled to support by the beneficiary. Expenditures may be made in the manner, when and to the extent that the custodial trustee determines suitable and proper, without court order and without regard to other support, income or property of the beneficiary.  3. A custodial trustee may establish checking, savings or other similar accounts of reasonable amounts under which either the custodial trustee or the beneficiary may withdraw funds from, or draw checks against, the accounts. Funds withdrawn from, or checks written against, the account by the beneficiary are distributions of custodial trust property by the custodial trustee to the beneficiary.  (Added to NRS by 2007, 288)
NV Rev Stat § 166A.260 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.260 - Determination of incapacity; effect.

  1. The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if:  (a) The custodial trust was created under NRS 166A.210;  (b) The transferor has so directed in the instrument creating the custodial trust; or  (c) The custodial trustee has determined that the beneficiary is incapacitated.  2. A custodial trustee may determine that the beneficiary is incapacitated in reliance upon:  (a) Previous direction or authority given by the beneficiary while not incapacitated, including, without limitation, direction or authority pursuant to a durable power of attorney;  (b) The certificate of the beneficiary’s physician or advanced practice registered nurse; or  (c) Other persuasive evidence.  3. If a custodial trustee for an incapacitated beneficiary reasonably concludes that the beneficiary’s incapacity has ceased, or that circumstances concerning the beneficiary’s ability to manage property and business affairs have changed since the creation of a custodial trust directing administration as for an incapacitated beneficiary, the custodial trustee may administer the trust as for a beneficiary who is not incapacitated.  4. On petition of the beneficiary, the custodial trustee or other person interested in the custodial trust property or the welfare of the beneficiary, the court shall determine whether the beneficiary is incapacitated.  5. Absent determination of incapacity of the beneficiary under subsection 2 or 4, a custodial trustee who has reason to believe that the beneficiary is incapacitated shall administer the custodial trust in accordance with the provisions of this chapter applicable to an incapacitated beneficiary.  6. Incapacity of a beneficiary does not terminate:  (a) The custodial trust;  (b) Any designation of a successor custodial trustee;  (c) Rights or powers of the custodial trustee; or  (d) Any immunities of third persons acting on instructions of the custodial trustee.  (Added to NRS by 2007, 288; A 2019, 528)
NV Rev Stat § 166A.270 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.270 - Exemption of third person from liability.

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:  1. The validity of the purported custodial trustee’s designation;  2. The propriety of, or the authority under this chapter for, any action of the purported custodial trustee;  3. The validity or propriety of an instrument executed or instruction given pursuant to this chapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or  4. The propriety of the application of property vested in the purported custodial trustee.  (Added to NRS by 2007, 289)
NV Rev Stat § 166A.280 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.280 - Liability to third person.

  1. A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or control of custodial trust property or a tort committed in the course of administering the custodial trust may be asserted by a third person against the custodial trust property by proceeding against the custodial trustee in a fiduciary capacity, whether or not the custodial trustee or the beneficiary is personally liable.  2. A custodial trustee is not personally liable to a third person:  (a) On a contract properly entered into in a fiduciary capacity unless the custodial trustee fails to reveal that capacity or to identify the custodial trust in the contract; or  (b) For an obligation arising from control of custodial trust property or for a tort committed in the course of the administration of the custodial trust unless the custodial trustee is personally at fault.  3. A beneficiary is not personally liable to a third person for an obligation arising from beneficial ownership of custodial trust property or for a tort committed in the course of administration of the custodial trust unless the beneficiary is personally in possession of the custodial trust property giving rise to the liability or is personally at fault.  4. Subsections 2 and 3 do not preclude actions or proceedings to establish liability of the custodial trustee or beneficiary to the extent the person sued is protected as the insured by liability insurance.  (Added to NRS by 2007, 289)
NV Rev Stat § 166A.300 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.300 - Expenses, compensation and bond of custodial trustee.

Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary or by court order, a custodial trustee:  1. Is entitled to reimbursement from custodial trust property for reasonable expenses incurred in the performance of fiduciary services;  2. Has a noncumulative election, to be made no later than 6 months after the end of each calendar year, to charge a reasonable compensation for fiduciary services performed during that year; and  3. Need not furnish a bond or other security for the faithful performance of fiduciary duties.  (Added to NRS by 2007, 291)
NV Rev Stat § 166A.310 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.310 - Reporting and accounting by custodial trustee; determination of liability of custodial trustee.

  1. Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter provide a written statement of the administration of the custodial trust property:  (a) Once each year;  (b) Upon request at reasonable times by the beneficiary or the beneficiary’s legal representative;  (c) Upon resignation or removal of the custodial trustee; and  (d) Upon termination of the custodial trust.  The statements must be provided to the beneficiary or to the beneficiary’s legal representative, if any. Upon termination of the beneficiary’s interest, the custodial trustee shall furnish a current statement to the person to whom the custodial trust property is to be delivered.  2. A beneficiary, the beneficiary’s legal representative, an adult member of the beneficiary’s family, a person interested in the custodial trust property or a person interested in the welfare of the beneficiary may petition the court for an accounting by the custodial trustee or the custodial trustee’s legal representative.  3. A successor custodial trustee may petition the court for an accounting by a predecessor custodial trustee.  4. In an action or proceeding under this chapter or in any other proceeding, the court may require or permit the custodial trustee or the custodial trustee’s legal representative to account. The custodial trustee or the custodial trustee’s legal representative may petition the court for approval of final accounts.  5. If a custodial trustee is removed, the court shall require an accounting and order delivery of the custodial trust property and records to the successor custodial trustee and the execution of all instruments required for transfer of the custodial trust property.  6. On petition of the custodial trustee or any person who could petition for an accounting, the court, after notice to interested persons, may issue instructions to the custodial trustee or review the propriety of the acts of a custodial trustee or the reasonableness of compensation determined by the custodial trustee for the services of the custodial trustee or others.  (Added to NRS by 2007, 291)
NV Rev Stat § 166A.320 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.320 - Limitations of action against custodial trustee.

  1. Except as otherwise provided in subsection 3, unless previously barred by adjudication, consent or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a beneficiary, a person to whom custodial trust property is to be paid or delivered or the legal representative of an incapacitated or deceased beneficiary or payee:  (a) Who has received a final account or statement fully disclosing the matter unless an action or proceeding to assert the claim is commenced within 2 years after receipt of the final account or statement; or  (b) Who has not received a final account or statement fully disclosing the matter unless an action or proceeding to assert the claim is commenced within 3 years after the termination of the custodial trust.  2. Except as otherwise provided in subsection 3, a claim for relief to recover from a custodial trustee for fraud, misrepresentation or concealment related to the final settlement of the custodial trust or concealment of the existence of the custodial trust is barred unless an action or proceeding to assert the claim is commenced within 5 years after the termination of the custodial trust.  3. A claim for relief is not barred by this section if the claimant:  (a) Is a minor, until the earlier of 2 years after the claimant becomes an adult or dies;  (b) Is an incapacitated adult, until the earliest of 2 years after:  (1) The appointment of a conservator;  (2) The removal of the incapacity; or  (3) The death of the claimant; or  (c) Was an adult, now deceased, who was not incapacitated, until 2 years after the claimant’s death.  (Added to NRS by 2007, 292)
NV Rev Stat § 166A.330 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.330 - Distribution on termination.

  1. Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property:  (a) To the beneficiary, if not incapacitated or deceased;  (b) To the conservator or other recipient designated by the court for an incapacitated beneficiary; or  (c) Upon the beneficiary’s death, in the following order:  (1) As last directed in a writing signed by the deceased beneficiary while not incapacitated and received by the custodial trustee during the life of the deceased beneficiary;  (2) To the survivor of multiple beneficiaries if survivorship is provided for pursuant to NRS 166A.220;  (3) As designated in the instrument creating the custodial trust; or  (4) To the estate of the deceased beneficiary.  2. If, when the custodial trust would otherwise terminate, the distributee is incapacitated, the custodial trust continues for the use and benefit of the distributee as beneficiary until the incapacity is removed or the custodial trust is otherwise terminated.  3. Death of a beneficiary does not terminate the power of the custodial trustee to discharge obligations of the custodial trustee or beneficiary incurred before the termination of the custodial trust.  (Added to NRS by 2007, 292)
NV Rev Stat § 166A.350 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.350 - Applicable law.

  1. This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration, the transferor, beneficiary or custodial trustee is a resident of or has its principal place of business in this State or custodial trust property is located in this State. The custodial trust remains subject to this chapter despite a later change in residence or principal place of business of the transferor, beneficiary or custodial trustee, or removal of the custodial trust property from this State.  2. A transfer made pursuant to an act of another state substantially similar to this chapter is governed by the law of that state and may be enforced in this State.  (Added to NRS by 2007, 295)
NV Rev Stat § 166A.360 (2021)
2021 Nevada Revised Statutes|Chapter 166A - Custodial Trusts (Uniform Act)|NRS 166A.360 - Uniformity of application and construction.

In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.  (Added to NRS by 2007, 295)
NV Rev Stat § 167.010 (2021)
2021 Nevada Revised Statutes|Chapter 167 - Transfers to Minors (Uniform Act)|NRS 167.010 - Short title.

This chapter may be cited as Nevada’s Uniform Act on Transfers to Minors.  (Added to NRS by 1957, 21; A 1967, 370; 1985, 69)