Nevada Revised Statutes

Nev. Rev. Stat. § 41.460 (2026)

When debtor in possession or long-term lessee deemed owner of motor vehicle

✓ current as of July 2026

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NRS 41.460 When debtor in possession or long-term lessee deemed owner of motor vehicle.

1. For the purpose of imposing liability pursuant to NRS 41.440 and for no other purpose, where a vehicle is subject to:

(a) A security interest, the debtor in possession shall be deemed to be the owner and the secured party out of possession shall not be deemed to be the owner.

(b) A long-term lease, the long-term lessee shall be deemed to be the owner and the long-term lessor shall not be deemed to be the owner.

2. As used in this section:

(a) “Lease,” “long-term lessee” and “long-term lessor” have the meanings ascribed to them in NRS 482.053.

(b) “Owner” has only the significance attributed to it by NRS 41.440.

(c) “Secured party” and “security interest” have the meanings ascribed to them by chapters 104 to 104C, inclusive, of NRS.

(Added to NRS by 1957, 61; A 1965, 916; 1967, 704)

LIABILITY OF PARENTS AND GUARDIANS FOR MINOR’S ACT OF NEGLIGENCE OR WILLFUL MISCONDUCT RESULTING IN DAMAGE

Notes of Decisions

Cited in 1 case, 1970–1970 · leading case: Vigoren v. Transnational Ins. Co., 482 P.2d 96 (Nev. 1970).

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Vigoren v. Transnational Ins. Co., 482 P.2d 96 (Nev. 1970). · cites it 2× “But in Nevada the omnibus statute and under NRS 41.460, subd. 1(a), the family purpose law, are like all others in the respect that a conditional vendee is the owner.”

— Nev. Rev. Stat. § 41.460(a) — 1 case

Vigoren v. Transnational Ins. Co., 482 P.2d 96 (Nev. 1970). “But in Nevada the omnibus statute and under NRS 41.460, subd. 1(a), the family purpose law, are like all others in the respect that a conditional vendee is the owner.”

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