Nev. Rev. Stat. » NRS: CHAPTER 115 - HOMESTEADS
Nevada Revised Statutes

Nev. Rev. Stat. § 115.005 (2026)

Definitions

✓ current as of July 2026
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NRS 115.005  Definitions.  As used in this chapter, unless the context otherwise requires:

      1.  “Equity” means the amount that is determined by subtracting from the fair market value of the property the value of any liens excepted from the homestead exemption pursuant to subsection 3 of NRS 115.010 or NRS 115.090.

      2.  “Homestead” means the property consisting of:

      (a) A quantity of land, together with the dwelling house thereon and its appurtenances;

      (b) A mobile home whether or not the underlying land is owned by the claimant; or

      (c) A unit, whether real or personal property, existing pursuant to chapter 116 or 117 of NRS, with any appurtenant limited common elements and its interest in the common elements of the common-interest community,

Ê to be selected by both spouses, or either of them, or a single person claiming the homestead.

      (Added to NRS by 1989, 646; A 1991, 579; 2003, 879; 2017, 781)

     

Notes of Decisions
Cited in 11 cases, 1993–2014 · leading case: Savage v. Pierson, 157 P.3d 697 (Nev. 2007).
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Savage v. Pierson, 157 P.3d 697 (Nev. 2007). · cites it 14× “Second, “equity” carries with it a specialized meaning: akin to the definition in NRS 115.005, Black’s Law Dictionary defines “equity,” in the real estate context, as “[t]he remaining interest belonging to one who has pledged or mortgaged his property, or the surplus of value…”
In re: Robert A. Alexander & Gloria J. Alexander, 472 B.R. 815 (9th Cir. BAP 2012). · cites it 2× “After reviewing the definition of “equity” in NRS § 115.005(1) and decisions by courts in other jurisdictions with a similar homestead exemption statute, the Savage court held that given the plain language of NRS § 21.”
In Re Greene, 346 B.R. 835 (Bankr. D. Nev. 2006). · cites it 2× “Wells has not proven that when Debtor filed the Chapter 7 bankruptcy petition he did not reside at the property with the intent to declare and use the property as his homestead. Wells further argues the homestead is invalid because Debtor’s travel trailer does not fit within the…”
In Re Stanton, 457 B.R. 80 (Bankr. D. Nev. 2011). · cites it 2× “” Nev.Rev.Stat. § 115.005(2)(a). This homestead extends to the claimant’s equity in the homesteaded property up to a maximum of $550,000.”
Jackman v. Nance, 857 P.2d 7 (Nev. 1993). “The relevant homestead statute, NRS 115.005(2), which was effective until January 1, 1992, provided in pertinent part that: “‘Homestead’ means the property consisting of either a quantity of land, together with the dwelling house thereon and its appurtenances, .”
Van Meter v. Nilsson, 315 P.3d 966 (Nev. 2013). “As relevant here, NRS 115.005(2)(a) defines a homestead as property consisting of “[a] quantity of land, together with the dwelling house thereon .”
In Re Trigonis, 224 B.R. 152 (Bankr. D. Nev. 1998). · cites it 6× “The debtors claim a homestead exemption on the property pursuant to Nevada’s homestead statute, Nev.Rev.Stat. § 115.005, et seq. The chapter 7 trustee subsequently moved this court for an order denying the debtors’ exemption, arguing that the exemption may not cover the entire…”
In Re Gray, 378 B.R. 728 (Bankr. D. Mass. 2007). “§ 70-32-101 (2007), Nev.Rev.Stat. Ann. § 115.005 (West 2006), N.”
In re Tarkanian, 562 B.R. 424 (Bankr. D. Nev. 2014). “” NRS 115.005(2)(a) defines a homestead to mean property consisting of “a quantity of land, together with the dwelling house thereon and its appurtenances.”
In re Nilsson, 2013 NV 101 (Nev. 2013). · cites it 2× “As relevant here, NRS 115.005(2)(a) defines a homestead as property consisting of "[a] quantity of land, together with the dwelling house thereon.”
Green v. Savage (9th Cir. 2009). · cites it 2× “IN RE GREENE 14283 protects the amount of equity the debtor holds in the property listed in Nev. Rev. Stat. § 115.005 (2),” so “a debtor must have some form of ‘equity’ in his residence in order to claim a homestead exemption in the residence.”
— Nev. Rev. Stat. § 115.005(1) — 2 cases
Savage v. Pierson, 157 P.3d 697 (Nev. 2007). “Second, “equity” carries with it a specialized meaning: akin to the definition in NRS 115.005, Black’s Law Dictionary defines “equity,” in the real estate context, as “[t]he remaining interest belonging to one who has pledged or mortgaged his property, or the surplus of value…”
In re: Robert A. Alexander & Gloria J. Alexander, 472 B.R. 815 (9th Cir. BAP 2012). “After reviewing the definition of “equity” in NRS § 115.005(1) and decisions by courts in other jurisdictions with a similar homestead exemption statute, the Savage court held that given the plain language of NRS § 21.”
— Nev. Rev. Stat. § 115.005(2) — 3 cases
Savage v. Pierson, 157 P.3d 697 (Nev. 2007). “Second, “equity” carries with it a specialized meaning: akin to the definition in NRS 115.005, Black’s Law Dictionary defines “equity,” in the real estate context, as “[t]he remaining interest belonging to one who has pledged or mortgaged his property, or the surplus of value…”
Jackman v. Nance, 857 P.2d 7 (Nev. 1993). “The relevant homestead statute, NRS 115.005(2), which was effective until January 1, 1992, provided in pertinent part that: “‘Homestead’ means the property consisting of either a quantity of land, together with the dwelling house thereon and its appurtenances, .”
In Re Greene, 346 B.R. 835 (Bankr. D. Nev. 2006). “Wells has not proven that when Debtor filed the Chapter 7 bankruptcy petition he did not reside at the property with the intent to declare and use the property as his homestead. Wells further argues the homestead is invalid because Debtor’s travel trailer does not fit within the…”
— Nev. Rev. Stat. § 115.005(2)(a) — 5 cases
In Re Stanton, 457 B.R. 80 (Bankr. D. Nev. 2011). “” Nev.Rev.Stat. § 115.005(2)(a). This homestead extends to the claimant’s equity in the homesteaded property up to a maximum of $550,000.”
Van Meter v. Nilsson, 315 P.3d 966 (Nev. 2013). “As relevant here, NRS 115.005(2)(a) defines a homestead as property consisting of “[a] quantity of land, together with the dwelling house thereon .”
In re Tarkanian, 562 B.R. 424 (Bankr. D. Nev. 2014). “” NRS 115.005(2)(a) defines a homestead to mean property consisting of “a quantity of land, together with the dwelling house thereon and its appurtenances.”
In Re Trigonis, 224 B.R. 152 (Bankr. D. Nev. 1998). “The debtors claim a homestead exemption on the property pursuant to Nevada’s homestead statute, Nev.Rev.Stat. § 115.005, et seq. The chapter 7 trustee subsequently moved this court for an order denying the debtors’ exemption, arguing that the exemption may not cover the entire…”
In re Nilsson, 2013 NV 101 (Nev. 2013). “As relevant here, NRS 115.005(2)(a) defines a homestead as property consisting of "[a] quantity of land, together with the dwelling house thereon.”
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