Nevada Revised Statutes Title 22. Cooperative Agreements by Public Agencies; Regional Transportation Commissions; Planning and Zoning; Development and Redevelopment § 277A.255. Disposal of real property and improvements acquired by exercise of power of eminent domain: Procedure; presumption; conveyance; reservation of easements, rights or interests

1. Except as otherwise provided in NRS 37.270 and except as otherwise provided by federal law, all real property, interests therein or improvements thereon and personal property acquired by a commission pursuant to chapter 37 of NRS or purchased under the threat of eminent domain proceedings may, after approval by the commission and if no longer needed for reasonable public use, be disposed of in accordance with the provisions of subsection 2, except that:

2. All property, interests or improvements not included within the provisions of paragraph (a), (b) or (c) of subsection 1 must first be offered for sale by the commission singly or in combination at public auction or by sealed bids. If the highest bid received is 90 percent or more of the commission's appraisal of the fair market value of the property, the property may be sold to the highest bidder. The notice and the terms of the sale must be published in a newspaper of general circulation in the county where the property is situated. The auction and opening of bids must be conducted by the commission. If the property cannot be sold for 90 percent or more of its fair market value, the commission may enter into a written listing agreement with a person licensed pursuant to chapter 645 of NRS to sell, lease, convey or otherwise dispose of the property for a reasonable price as determined by resolution to be in the best interest of the commission.

3. It is conclusively presumed in favor of the commission and any purchaser for value that the commission acted within its lawful authority in acquiring and disposing of the property, and executing any conveyance vesting title in the purchaser. All such conveyances must be quitclaim in nature, and the commission shall not warrant title, furnish title insurance or pay the tax on transfer of real property.

4. No person has a right of action against the commission or its employees for a violation of this section.

5. The commission may reserve and except easements, rights or interests from the conveyance of any real property disposed of in accordance with this section. The easements, rights or interests include, without limitation: