Nevada § 111.1039 - Prospective application
Full text of Nevada Nevada Revised Statutes § 111.1039 — Prospective application, with citation guidance and answers to common questions.
§ 111.1039. Prospective application
1. Except as extended by subsection 2, NRS 111.103 to 111.1037 , inclusive, apply to a nonvested property interest or a power of appointment that
is created on or after July 1, 1987. For purposes of this section only, a nonvested property interest or a power of appointment
created by the exercise of a power of appointment is created when the power is irrevocably
exercised or when a revocable exercise becomes irrevocable. 2. With respect to a nonvested property interest or a power of appointment that was
created before July 1, 1987, and that violates the rule against perpetuities as that
rule existed before that date, a court, upon the petition of an interested person,
may exercise its equitable power to reform the disposition in the manner that most
closely approximates the transferor's manifested plan of distribution and is within
the limits of the rule against perpetuities applicable when the nonvested property
interest or power of appointment was created.
Frequently Asked Questions About Nevada § 111.1039
What does Nevada Revised Statutes § 111.1039 cover?
Section 111.1039 ("Prospective application") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 111.1039?
A common citation format is "Nevada Revised Statutes § 111.1039" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 111.1039 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.