Nevada § 482.109 - “Security interest” defined
Full text of Nevada Nevada Revised Statutes § 482.109 — “Security interest” defined, with citation guidance and answers to common questions.
§ 482.109. “Security interest” defined
“Security interest” means an interest in a vehicle, including a mobile home whether
or not permanently attached to the land, reserved or created by agreement, which secures
payment or performance of an obligation. “Security interest” includes the interest of a lessor under a lease intended as security.
Whether a lease is intended as security is to be determined by the facts of each case,
but: 1. The inclusion of an option to purchase does not of itself make the lease one intended
for security; and 2. An agreement that upon compliance with the terms of the lease the lessee shall
become or has the option to become the owner of the vehicle for no additional consideration
does make the lease one intended for security.
Frequently Asked Questions About Nevada § 482.109
What does Nevada Revised Statutes § 482.109 cover?
Section 482.109 ("“Security interest” defined") 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 § 482.109?
A common citation format is "Nevada Revised Statutes § 482.109" (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 § 482.109 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.