NRS 115.005 Definitions.
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/nv/chapter-115-homesteads/115-005A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 115.005 Definitions. As used in this chapter, unless the context otherwise requires:
1. “Equity” means the amount that is determined by subtracting from the fair market value of the property the value of any liens excepted from the homestead exemption pursuant to subsection 3 of NRS 115.010 or NRS 115.090 .
2. “Homestead” means the property consisting of:
(a)A quantity of land, together with the dwelling house thereon and its appurtenances;
(b)A mobile home whether or not the underlying land is owned by the claimant; or
(c)A unit, whether real or personal property, existing pursuant to chapter 116 or 117 of NRS, with any appurtenant limited common elements and its interest in the common elements of the common-interest community,
Ê to be selected by both spouses, or either of them, or a single person claiming the homestead.