Nevada Administrative Code
Chapter 645G - Qualified Intermediaries for Tax-Deferred Exchanges of Property
Section 645G.030 - "Advertises or holds himself or herself out as prepared to facilitate a tax-deferred exchange of property in this State by acting as the custodian of money or other property" interpreted

Universal Citation: NV Admin Code 645G.030

Current through September 16, 2024

1. As used in subsection 2 of NRS 645.606, except as otherwise provided in subsection 2 of this section, the Division will interpret "advertises or holds himself or herself out as prepared to facilitate a tax-deferred exchange of property in this State by acting as the custodian of money or other property" to include a person making a statement that he or she is ready, willing, and able to act as a qualified intermediary, an escrow holder of a qualified escrow account, a trustee of a qualified trust, as those terms are defined in 26 C.F.R. § 1.1031(k) -1(g), or as a custodian of property in a tax-deferred exchange of real property as a part of:

(a) Advertising in printed publications which are published in Nevada, including telephone directories for locations in Nevada;

(b) Advertising by direct mail or circulating material to residents of Nevada;

(c) Telephone calls, electronic or telephonic transmissions to a facsimile machine or other electronic communications directed as solicitations to residents or other persons located in Nevada; or

(d) Advertising with a broadcast medium that initiates its broadcasts in Nevada.

2. The interpretation set forth in subsection 1 does not include:

(a) Advertising for and teaching seminars or classes, or giving presentations to attorneys, accountants, real estate licensees, persons who offer tax advice, or other persons where the primary purpose is to teach the persons about tax-deferred exchanges of real property or about acting as a qualified intermediary, an escrow holder of a qualified escrow account, or a trustee of a qualified trust;

(b) Advertising in regional or national publications which are published outside Nevada, even if the publications are distributed to residents of Nevada as well as residents of other states, unless the text of the advertisement specifically refers to Nevada or any location in Nevada; or

(c) Advertising with a broadcast medium which initiates its broadcasts outside Nevada, even if the broadcasts are received by persons in Nevada as well as persons in other states, unless the advertisement specifically refers to Nevada or any location in Nevada.

Added to NAC by Real Estate Div., eff. 3-30-94; A 3-1-96-Substituted in revision for NAC 645.776

NRS 645.606, 645.6065

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