Nev. Admin. Code § 361.944 - Recalculation of cost upon addition or deletion of allodial titleholder to reflect change in titleholders and taxable value
1. The addition
or deletion of an allodial titleholder may require a recalculation by the State
Treasurer of the cost of the certificate to reflect the actuarial assumptions
of the life expectancy of the allodial titleholders and the taxable value of
the specific property.
2. Upon
receipt of an application to add or delete an allodial titleholder, the county
treasurer shall notify the State Treasurer, who will recalculate the actuarial
assumptions based on the change in titleholders and change in taxable
value.
3. The State Treasurer will
determine if any additional amount needs to be paid for the cost of the
certificate for that property and notify the titleholders and the county
treasurer.
4. A recalculation may
not be needed if a deletion occurs solely through the death of a titleholder
without transfer of the decedent's interest to another person, including,
without limitation, the death of a joint tenant with survivorship
rights.
Notes
NRS 361.915, 361.920
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