Nev. Rev. Stat. § 164.845
Allocation of receipts from rental property to income; treatment of refundable deposit
Nevada · Nevada Revised Statutes Chapter 164 — Administration of Trusts · Status: effective
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- Citation
- Nev. Rev. Stat. § 164.845, Allocation of receipts from rental property to income; treatment of refundable deposit, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2086698
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Full text
To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods, must be added to principal and held subject to the terms of the lease and is not available for distribution to a beneficiary until the trustee’s contractual obligations have been satisfied with respect to that amount.