My Account Deeds.com Real Estate Deeds

Nevada Gift Deed

Gifts of Real Property in Nevada

A gift deed, or deed of gift, is a legal document voluntarily transferring title to real property from one party (the grantor or donor) to another (the grantee or donee). A gift deed typically transfers real property between family or close friends. Gift deeds are also used to donate to a non-profit organization or charity. The deed serves as proof that the transfer is indeed a gift and without consideration (any conditions or form of compensation).

Valid deeds must meet the following requirements: The grantor must intend to make a present gift of the property, the grantor must deliver the property to the grantee, and the grantee must accept the gift. Gift deeds must contain language that explicitly states no consideration is expected or required, because any ambiguity or reference to consideration can make the deed contestable in court. A promise to transfer ownership in the future is not a gift, and any deed that does not immediately transfer the interest in the property, or meet any of the aforementioned requirements, can be revoked [1].

A lawful gift deed must also include the grantor's full name and marital status, as well as the grantee's full name, marital status, mailing address, and vesting. Vesting describes how the grantee holds title to the property. are tenancy in common, joint tenancy, and community property. A grant of ownership of real estate to two or more persons is presumed to create a tenancy in common, unless otherwise stated in the conveyance. A married couple may hold real property as joint tenants, tenants in common, or as community property. (NRS 111.060-.065; 123.220; 123.030). All property acquired after marriage by either spouse, or both, is community property unless the property was acquired by gift. Gifts can only vest as community property when made to both spouses (NRS 123.130).

As with any conveyance of real estate, a gift deed requires a complete legal description of the parcel. Recite the source of title to establish a clear chain of title, and detail any restrictions associated with the property. A Declaration of Value form must accompany all real property documents. If an exemption to the transfer tax is claimed, it should be noted on the Declaration of Value (NRS 375.060). See NRS 375.090 for a list of exemptions. Record the completed deed at the local County Register of Deed's office.

The IRS levies a Federal Gift Tax on any transfer of property from one individual to another with no consideration, or consideration that is less than the full market value. Gifts of real property in Nevada are subject to this federal gift tax, but there is no associated state gift tax. In accordance with federal law, individuals are permitted an annual exclusion of $15,000 on gifts. This means that gifts valued below $15,000 do not require a federal gift tax return (Form 709). Even so, grantors should consider filing one for many gifts of real property [2]. The grantor is responsible for paying the federal gift tax; however, if the grantor does not pay the gift tax, the grantee will be held liable [1].

With gifts of real property, the recipient of the gift (grantee) is not required to declare the amount of the gift as income, but if the property accrues income after the transaction, the recipient is responsible for paying the requisite state and federal income taxes [3].

This article is provided for informational purposes only and is not a substitute for the advice of an attorney. Contact a lawyer with any questions about gift deeds or other issues related to the transfer of real property. For questions regarding federal and state tax laws, consult a tax specialist.

[1] https://nationalparalegal.edu/public_documents/courseware_asp_files/realProperty/PersonalProperty/InterVivosGifts.asp
[2] http://msuextension.org/publications/FamilyFinancialManagement/MT199105HR.pdf
[3] https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes

Deeds.com Nevada Gift Deed Forms Have Been Updated as Recently as Friday November 29, 2019

4.7 out of 5 (1021 Reviews)

What others like you are saying:


Kimberly R. said: Very easy to use. Very informative. I think this is a very good service and is worth the $19 especially if you value time.

Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!


Deborah B. said: EVERYTHING WENT WELL, HAD NO PROBLEMS DOWNLOADING MY FORMS. THE ORDER QUICK AND EASY. THANKS IF I EVER NEED AND OF THESES FORMS AGAIN I WILL BE BACK.

Reply from Staff: Thanks Deborah, we really appreciate your feedback.


SHARON R. said: Excellent Service! Please note that form Realty Transfer Tax Statement of Value does not print completely. Part of the pages are cut off. Otherwise, excellent service.

Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!


Daniel D. said: Easier than I expected. I followed the downloaded examples step by step, and before I knew it, the form was completed correctly and good to go. Thank you, Daniel D.

Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!


Kimberly M. said: Great service once again from Deeds.com. I will be using them again in the future.

Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!


Terrance S. said: No review provided.

Reply from Staff: Thank you Terrance.


Nevada Gift Deed Form