Property Ownership
What is 'actual possession' versus 'constructive possession' in Nevada real estate?
AActual possession means you own the property; constructive possession means you rent it
BActual possession means physical occupancy and use of the property; constructive possession means having the right to possession (through ownership or a lease) without necessarily being physically present✓ Correct
CConstructive possession is only recognized for commercial properties
DBoth terms mean the same thing under Nevada law
Explanation
Actual possession involves physical presence and use of the property. Constructive possession derives from legal rights (ownership or lease) without necessarily being physically present — an owner who rents out their property has constructive possession while the tenant has actual possession.
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Key Terms to Know
Adverse Possession
A doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
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