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Current as of January 01, 2025 | Updated by Findlaw Staff
1. If real or personal property is sold that is subject to a mortgage or other lien which is a valid claim against the estate, the purchase money must be applied, after paying the necessary expenses of the sale:
(a) First to the payment and satisfaction of the mortgage or other lien; and
(b) The residue, if any, in due course of administration.
2. The application of the purchase money to the satisfaction of the mortgage or other lien must be made without delay, and the property is subject to the mortgage or other lien until the purchase money has been so applied.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 12. Wills and Estates of Deceased Persons § 148.130. Sale of property subject to mortgage or other lien - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-12-wills-and-estates-of-deceased-persons/nv-rev-st-148-130/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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