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Nevada Revised Statutes Title 10. Property Rights and Transactions § 115.055. Proceeds from sale of homestead only exempt from execution if reinvested in another property that is identified and taken possession of within certain periods

Current as of January 01, 2025 | Updated by Findlaw Staff

Notwithstanding any other provision of law, the proceeds of $605,000 from the sale of a homestead pursuant to subsection 2 or 3 of NRS 115.050 are only exempt from execution if:

1. Such proceeds are reinvested in another property of like kind for which the declaration of a homestead will be made; and

2. The other property is:

(a) Identified not later than 45 days after the sale of the homestead; and

(b) Taken possession of not later than 180 days after the sale of the homestead.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 10. Property Rights and Transactions § 115.055. Proceeds from sale of homestead only exempt from execution if reinvested in another property that is identified and taken possession of within certain periods - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-10-property-rights-and-transactions/nv-rev-st-115-055/

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