VESTING in Las Vegas Nevada
Your offer to purchase will include a clause concerning vesting.
This is the legal way that you wish to take title to the property. If you are
not sure about your vesting, you may indicate on the offer that you will inform
the escrow officer at the time of closing. This will presumably give you time
to check with your attorney and/or accountant. The manner of vesting can have
serious legal or tax consequences. Neither your escrow officer or real estate
agent should advise you as to how you should acquire your vested interest.
Your vesting will contain 3 parts:
Part I... Your name(s)
Part II... Marital status ie. husband & wife or a
single man/woman or an unmarried man/woman
Part III... Tenure of title
Individual, Sole & Separate (If married and acquiring
title as his/her sole and separate property, the title company will require a
Quit Claim Deed from the spouse.
Joint Tenants (This provides for right of survivorship)
Community Property with Rights of Survivorship
Tenants in Common (if unequal undivided interest, specify
Trust: ________trustee, under ____________name of trust
Partnership: provide a copy of the Partnership Agreement, and
a Certificate of Limited Partnership, if applicable.
Corporation: provide the State in which you are incorporated
and a Corporate Resolution.
Prominent Realty Group
7469 W Lake Mead Blvd Ste 130
Las Vegas, NV 89128