NV Bar Nevada Property Law 2 — Questions and Answers
Question 1: Nevada recognizes which concurrent ownership that includes a right of survivorship?
- Tenancy in common
- Joint tenancy (Correct answer)
- Tenancy at will
- Periodic tenancy
Correct answer: Joint tenancy
Joint tenancy in Nevada carries a right of survivorship, meaning a deceased joint tenant's interest automatically passes to the surviving joint tenants.
Question 2: Under Nevada law, what are the four unities required to create a joint tenancy?
- Time, title, interest, possession (Correct answer)
- Possession, consideration, consent, capacity
- Time, place, value, intent
- Title, occupancy, payment, duration
Correct answer: Time, title, interest, possession
Nevada requires the four unities of time (same time), title (same instrument), interest (equal shares), and possession (equal right to possess) to create a valid joint tenancy.
Question 3: In Nevada, a mechanic's lien must be recorded within how many days of the completion of work?
- 30 days
- 60 days
- 90 days (Correct answer)
- 120 days
Correct answer: 90 days
Under NRS 108.226, a notice of lien for a mechanic's lien must be recorded within 90 days after the date the work or service was completed or materials were last furnished.
Question 4: Under Nevada's foreclosure law, which type of foreclosure is most commonly used?
- Judicial foreclosure
- Non-judicial (trustee's sale) foreclosure (Correct answer)
- Strict foreclosure
- Scire facias foreclosure
Correct answer: Non-judicial (trustee's sale) foreclosure
Nevada primarily uses non-judicial foreclosure (trustee's sale) under NRS 107.080, which does not require court action and is faster than judicial foreclosure.
Question 5: In Nevada, what is the redemption period after a non-judicial foreclosure sale?
- 6 months
- 1 year
- There is no right of redemption after non-judicial foreclosure (Correct answer)
- 90 days
Correct answer: There is no right of redemption after non-judicial foreclosure
Nevada eliminated the post-sale right of redemption for non-judicial foreclosures under NRS 107.080; no statutory right of redemption exists after a trustee's sale.
Question 6: Nevada's landlord-tenant law requires a landlord to return a tenant's security deposit within how many days of move-out?
- 14 days
- 21 days
- 30 days (Correct answer)
- 45 days
Correct answer: 30 days
Under NRS 118A.242, a Nevada landlord must return the security deposit (or provide an itemized written statement of deductions) within 30 days after the tenant vacates.
NV Bar Nevada Property Law 2
Nevada recognizes which concurrent ownership that includes a right of survivorship?