Bulletin: NV2021001

Date:
July 08, 2021
To:
All Nevada Issuing Offices
RE:
LEGISLATIVE UPDATE - Deed Upon Death - A.B. 414 - NRS 111.689

Dear Associates:

The Nevada Legislature passed Assembly Bill No. 414 (A.B. 414) in the 2021 legislative session. A.B. 414 makes significant changes to NRS 111.689 Enforcement of liabilities against property transferred pursuant to deed upon death. Due to the changes of NRS 111.689, the following requirements shall apply to insuring title based upon a deed upon death wherein the grantor died on or after July 1, 2021. 

  1. Probate for the estate of the decedent must be opened.
  2. A local attorney must be retained to comply with the statutory requirements of NRS 111.689.
  3. Require proof of delivery of notice of death of grantor to Department of Health and Human Services.

    a. Receive a waiver or demand statement from Department of Health and Human Services.
  4. Require proof of notice to “readily ascertainable creditors” and to the probate estate.
  5. Wait 90 days from first mailing or first publication to allow creditors to file claims. If all claims will be paid, closing may take place after 90 days from first mailing or publication. If any claim is rejected, you must wait an additional 10 days to allow beneficiaries to reject/accept claims and an additional 30 days for claimants to file suit.

    a. Court records must be searched to determine if claimants have filed suit. If suit has been filed, closing may not take place until those claims have been resolved in the courts.
  6. Obtain affidavit and indemnity from beneficiaries under the Deed upon Death, that all provisions of the statute have been complied with, no claims have been made, OR provide details of the claims made and whether each claim has been accepted or rejected. If claims have been rejected, wait 30 days from notice of rejection to close and confirm suit has not been filed (as provided in (5) above), if any claim or claims are accepted, provide proof of payment of claims.
  7. Obtain certification from the attorney that all provisions of 111.689 have been satisfied and the property may be transferred in accordance with the terms of the Deed upon Death.

Submit all documentation and affidavits to a Stewart underwriter for review and approval.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.  

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None