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Nevada Revised Statutes Title 12. Wills and Estates of Deceased Persons § 143.535. Sale or exchange of personal property

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

1. The personal representative who has limited authority or full authority has the power to sell personal property of the estate or to exchange personal property of the estate for other property upon such terms and conditions as the personal representative may determine. Except as otherwise provided in subsection 2, the personal representative shall give notice of the proposed action pursuant to NRS 143.700 to 143.760, inclusive, in exercising this power.

2. The personal representative may exercise the power granted by subsection 1 without giving notice of the proposed action pursuant to NRS 143.700 to 143.760, inclusive, in case of the sale or exchange of any of the following:

(a) A security sold on an established stock or bond exchange;

(b) A security designated as a national market system security on an interdealer quotation system, or subsystem thereof, by the National Association of Securities Dealers Automated Quotations System, NASDAQ, sold through a broker-dealer registered under the Securities Exchange Act of 1934, 15 U.S.C. §§ 78a et seq., during the regular course of business of the broker-dealer;

(c) Subscription rights for the purchase of additional securities which are owned by the estate by reason of the estate's ownership in securities if those rights are sold for cash; or

(d) Personal property which is perishable if the property is sold for cash.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 12. Wills and Estates of Deceased Persons § 143.535. Sale or exchange of personal property - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-12-wills-and-estates-of-deceased-persons/nv-rev-st-143-535/

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