Nevada § 333A.0904 - Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages
Full text of Nevada Nevada Revised Statutes § 333A.0904 — Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages, with citation guidance and answers to common questions.
§ 333A.0904. Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages
For the period during which an installment-purchase contract or lease-purchase contract
that was entered into to finance a performance contract is in effect, the property
that is the subject of the installment-purchase contract or lease-purchase contract: 1. Is exempt from ad valorem property taxation by this State and its political subdivisions
if: (a) An improvement is being constructed on the property pursuant to the installment-purchase
contract or lease-purchase contract; or (b) This State or a using agency is in possession of the property. 2. Shall be deemed to be the property of this State or the using agency that is a
party to the installment-purchase contract or lease-purchase contract for the purposes
of statutory limits on damages that may be awarded against this State, including,
without limitation, the limits in chapter 41 of NRS, with respect to any action or
claim, including a claim for civil damages, that arises from or is related to the
property and is brought by a person who is not a party to the installment-purchase
contract or lease-purchase contract if: (a) An improvement is being constructed on the property pursuant to the installment-purchase
contract or lease-purchase contract; or (b) This State or the using agency is in possession of the property.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 333A.0904
What does Nevada Revised Statutes § 333A.0904 cover?
Section 333A.0904 ("Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages") 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 § 333A.0904?
A common citation format is "Nevada Revised Statutes § 333A.0904" (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 § 333A.0904 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.