Nev. Admin. Code § 375.170 — 375.170

NAC 375.170    Examples of transactions to which taxes do not apply. ( NRS 360.090 , 375.015 , 375.030 , 375.090 )    In
addition to the exemptions provided by NRS 375.090 , the following are examples
of transfers or conveyances which are not subject to any tax imposed by chapter 375 of NRS:
1.  The reconveyance of realty, conveyed to
secure a debt, upon payment of the debt.
2.  A deed to or by a trustee not pursuant to
a sale.
3.  A deed to confirm title already vested in
the grantee, such as a quitclaim deed to correct a flaw in title.
4.  A deed given by an executor in accordance
with the terms of the will except that, if, by reason of a consideration
passing between the devisees, one of them takes a greater share in the realty
than that to which he is entitled under the will, the deed given by the
executor to convey the greater share is subject to a tax computed upon the
amount of the consideration.
5.  A deed from an agent to his principal
conveying real estate purchased for and with money of the principal. A valid
agency agreement must exist between the agency and his principal. No money may
be supplied by the agent.
6.  An option or contingent agreement for the
purchase of real property or a contract for the sale of real property, if the
contract does not vest legal title until a future event occurs.
7.  Partition deeds, unless, for
consideration, some of the parties take shares greater in value than their
undivided interests, in which event a tax attaches to each deed conveying a
greater share computed upon the consideration for the excess. If, however, the
parties hold title as joint tenants or tenants in common, the tax is
applicable, unless another exemption applies.
8.  Ordinary leases of real property for any
term of years. If the lease is for life or in perpetuity, or if the lease is
terminable at the option of the lessee only, the tax is applicable.
9.  A deed executed by a debtor conveying
property to a trustee for the benefit of his creditors except that when the
trustee conveys the property to a creditor or sells it to any other person, the
conveyance executed by him is taxable.
10.  Conveyance to a receiver of realty
included in the receivership assets, and reconveyance of the realty upon the
termination of the receivership.
11.  A deed conveying real estate situated in
a foreign country.
12.  Transfer of real estate in a statutory
merger consolidation from a constituent corporation to the continuing or new
corporation.
13.  Distribution of interests in real
property owned by a corporation as part of the liquidation of a corporation to
the shareholders of the corporation in percentages equal to their ownership in
the corporation. To receive title to his interest in the property, each
shareholder must redeem his stock.
14.  Transfer of title in real property to a
trustee in a bankruptcy proceeding pursuant to a written plan of reorganization
approved by the bankruptcy court.
15.  Transfer of real property from “A” to
“A’s” trust, without consideration. “A” is trustor of the trust.
16.  Transfer of real property from “A” to
“A’s” trust, without consideration. “B” is grantor on the deed and is the legal
representative of “A,” the trustor of the trust.
17.  Real property is owned by “A” as trustee
of the “A” Family Trust. “A” is also trustor of that trust. “A” transfers the
real property to “C,” “A’s” son, without consideration.
18.  A purchase agreement that is recorded
which sets forth the purchase price, legal description, buyer and seller of the
property, but which also provides that the transaction is not complete until
the seller obtains a zoning change and the buyer has not yet received a present
interest in the property.
[Tax Comm’n, Real Property Transfer Tax Ruling No. 4,
eff. 1-1-68; A 9-28-68]—(A by R181-01, 5-13-2002; A by Dep’t of Taxation by
R224-03, 4-30-2004)