{"data":{"id":"us-nv/nrs-111.1033","jurisdiction":"us-nv","citation":"NRS 111.1033","heading":"When nonvested property interest or power of appointment created.","body":"1. Except as provided in subsections 2 and 3 and in subsection 1 of NRS 111.1039, the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.\n2. For purposes of NRS 111.103 to 111.1039, inclusive, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of:\n(a) A nonvested property interest; or\n(b) A property interest subject to a power of appointment described in subsection 2 or 3 of NRS 111.1031,\nÊ the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates. For purposes of NRS 111.103 to 111.1039, inclusive, a joint power with respect to community property held by persons married to each other is a power exercisable by one person alone.\n3. For purposes of NRS 111.103 to 111.1039, inclusive, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.","path":["TITLE 10 — PROPERTY RIGHTS AND TRANSACTIONS","CHAPTER 111 - ESTATES IN PROPERTY; CONVEYANCING AND RECORDING","RULE AGAINST PERPETUITIES (UNIFORM ACT)"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-111.html#NRS111Sec1033","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:31Z","sha256":"b326a5cc3c58fe152fa96fee939b4284efda6e26e7e6aa40dc534d738b5073fe","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-111.1031","next":"us-nv/nrs-111.1035"},"notice":"GroundRules: Original legal text. Not legal advice."}