[Rev. 11/21/2013 9:45:46
AM--2013]
CHAPTER 143 - POWERS AND DUTIES OF PERSONAL
REPRESENTATIVES
ADMINISTRATION OF ESTATES GENERALLY
NRS 143.010 Multiple
personal representatives: Effect of absence or disability; sufficiency of acts
of majority.
NRS 143.020 Right
to possession of decedent’s property.
NRS 143.030 Duty
to take possession of estate and collect debts; exception for certain assets
held by guardian.
NRS 143.035 Duty
to use reasonable diligence; report required if estate not closed within
certain times; hearing and determinations by court.
NRS 143.037 Duty
to close estate within 18 months after appointment; exceptions.
NRS 143.040 Rights
of surviving partner.
NRS 143.050 Continuing
business of decedent.
NRS 143.060 Extent
of power to sue and be sued.
NRS 143.065 Statute
of limitations for cause of action of decedent.
NRS 143.070 Actions
by personal representative for conversion or trespass.
NRS 143.080 Actions
against personal representative for conversion or trespass.
NRS 143.090 Action
on bond of former personal representative.
NRS 143.100 Action
for conversion before letters granted.
NRS 143.110 Procedure
when conversion alleged: Citation; examination; allowance of necessary
expenses.
NRS 143.120 Procedure
when conversion alleged: Commitment for refusal to appear for examination;
order requiring delivery of property to personal representative.
NRS 143.130 Accounting
by person holding assets of estate for personal representative; penalty for
failure or refusal to comply with order.
NRS 143.140 Discharging
debtor of estate, compromising claims and renewing obligations: Procedure.
NRS 143.150 Action
to recover fraudulently conveyed property for benefit of creditors.
NRS 143.160 Costs;
disposal of property recovered; proceeds.
NRS 143.165 Temporary
order to restrain personal representative from performing administration,
disbursement or distribution of estate: Issuance; hearing.
NRS 143.170 Purchase
of property of estate by personal representative.
NRS 143.175 Power
to make certain investments.
NRS 143.180 Power
to make loans, advances of credit and other investments insured by Federal
Housing Administrator; validation of loans, advances of credit and purchases of
obligations made before October 1, 1999.
NRS 143.185 Power
to invest in farm loan bonds and other obligations issued by federal land banks
and banks for cooperatives.
NRS 143.187 Power
to hold stock in name of nominee; personal liability of personal
representative.
NRS 143.188 Power
to direct termination of certain electronic or digital accounts or assets.
NRS 143.190 Cumulative
method of service of process on personal representative; written statement
containing permanent address of personal representative to be filed with clerk.
NRS 143.200 Actions
not to abate on death, disqualification, resignation or removal of personal
representative; substitution of successor.
NRS 143.210 Necessary
parties to actions.
INDEPENDENT ADMINISTRATION OF ESTATES
General Provisions
NRS 143.300 Short
title.
NRS 143.305 Definitions.
NRS 143.310 “Court
supervision” defined.
NRS 143.315 “Full
authority” defined.
NRS 143.320 “Limited
authority” defined.
NRS 143.325 Applicability.
NRS 143.330 Effect
of provision in will that prohibits independent administration of estate.
NRS 143.335 Independent
administration of estate by special administrator.
NRS 143.340 Personal
representative required to petition for full or limited authority to administer
estate.
NRS 143.345 Notice
of hearing on petition; persons required to receive notice; contents.
NRS 143.350 Court
required to grant requested authority; exceptions.
NRS 143.355 Amount
of bond of personal representative.
NRS 143.360 Petition
for modification or revocation of authority of personal representative; notice;
court order.
NRS 143.365 Authority
to administer estate without court supervision; request for court supervision.
NRS 143.370 Court
approval or supervision required for certain actions; exceptions.
NRS 143.375 Powers
of personal representative granted independent administration authority.
NRS 143.380 Sale
of property of estate; court confirmation of sales not required.
Powers Exercisable Only After Giving
Notice of Proposed Action
NRS 143.400 Requirements
for exercise of powers by personal representative.
NRS 143.405 Sale
or exchange of real property.
NRS 143.410 Sale
or incorporation of business or joint venture.
NRS 143.415 Abandonment
of tangible personal property.
NRS 143.420 Power
to borrow and to encumber property of estate.
NRS 143.425 Grant
of option to purchase real property of estate.
NRS 143.430 Transfer
of property to person exercising option to purchase provided in will.
NRS 143.435 Conveyance
or transfer of real or personal property under certain circumstances.
NRS 143.440 Determination
of claims to property.
NRS 143.445 Disclaimers.
NRS 143.450 Preliminary
distributions authorized under certain circumstances.
NRS 143.455 Actions
concerning claims by, for the benefit of, or against the estate.
NRS 143.460 Commencement
and defense of certain actions and proceedings.
NRS 143.465 Modification
of terms of obligation to or in favor of decedent.
Powers the Exercise of Which Require Giving Notice of Proposed
Action Under Certain Circumstances
NRS 143.500 Exercise
of powers by personal representative; exceptions.
NRS 143.505 Management
and control of estate property.
NRS 143.510 Power
to enter contracts without notice; exception.
NRS 143.515 Deposit
and investment of money of estate.
NRS 143.520 Continuation
of partnership or other business.
NRS 143.525 Payment
of family allowance.
NRS 143.530 Lease
of property of estate.
NRS 143.535 Sale
or exchange of personal property.
NRS 143.540 Grant
of exclusive right to sell property.
Powers Exercisable Without Giving Notice
of Proposed Action
NRS 143.600 Exercise
of powers by personal representative.
NRS 143.605 Additional
powers of personal representative.
NRS 143.610 Conveyance
or transfer of property under certain circumstances.
NRS 143.615 Payment
of taxes, assessments and expenses.
NRS 143.620 Purchase
of annuity under certain circumstances.
NRS 143.625 Exercise
of option.
NRS 143.630 Purchase
of securities or commodities to perform incomplete contract of sale.
NRS 143.635 Holding
securities in name of nominee or in any other form for certain purposes.
NRS 143.640 Exercise
of security subscription or conversion rights.
NRS 143.645 Repairs
and improvements to property of estate.
NRS 143.650 Acceptance
of deed or deed of trust in lieu of foreclosure or trustee’s sale.
NRS 143.655 Partial
satisfaction of mortgage or partial reconveyance under deed of trust.
Procedures Relating to Notice of
Proposed Action
NRS 143.700 Circumstances
pursuant to which notice of proposed action is required or authorized.
NRS 143.705 Persons
to whom notice of proposed action is required to be given.
NRS 143.710 Consent
to proposed action.
NRS 143.715 Waiver
of notice for particular proposed action; general waiver of notice of proposed
action.
NRS 143.720 Revocation
of consent to proposed action or waiver of notice of proposed action.
NRS 143.725 Contents
of notice of proposed action.
NRS 143.730 Requirements
for delivery of notice of proposed action.
NRS 143.735 Objection
to proposed action; requirements for delivery; form; notice of objection to
personal representative.
NRS 143.740 Restraining
order prohibiting proposed action without court supervision; notice of
restraining order to personal representative.
NRS 143.745 Court
authorization or confirmation required if personal representative receives
notice of objection or of restraining order.
NRS 143.750 Effect
of failure to object to proposed action; court review of action by personal
representative under certain circumstances.
NRS 143.755 Failure
of personal representative to comply with certain requirements; validity of
actions taken without such compliance.
NRS 143.760 Court
authorized to remove personal representative from office under certain
circumstances.
Forms
NRS 143.800 Letters
testamentary or letters of administration.
NRS 143.805 Notice
of proposed action.
NRS 143.810 Objection
to proposed action.
NRS 143.815 Consent
to proposed action.
_________
ADMINISTRATION OF ESTATES GENERALLY
NRS 143.010 Multiple personal representatives: Effect of absence or
disability; sufficiency of acts of majority. If
there are two personal representatives, the acts of one alone are valid if the
other is absent from the state, or for any cause is laboring under any legal
disability, and if there are more than two, the acts of a majority are sufficient.
[Part 44:107:1941; 1931 NCL § 9882.44]—(NRS A 1999, 2289)
NRS 143.020 Right to possession of decedent’s property. Except as otherwise provided in NRS 143.030 and 146.010,
a personal representative has a right to the possession of all the real, as
well as personal, property of the decedent and may receive the rents and
profits of the property until the estate is settled, or until delivered over by
order of the court to the heirs or devisees, and shall make a reasonable effort
to keep in good tenantable repair all houses, buildings and appurtenances
thereon which are under the control of the personal representative.
[106:107:1941; 1931 NCL § 9882.106]—(NRS A 1999, 2290; 2009, 1665)
NRS 143.030 Duty to take possession of estate and collect debts; exception
for certain assets held by guardian.
1. A personal representative shall take
into possession all the estate of the decedent, real and personal, except that
exempted as provided in this title, and shall collect all receivables due the
decedent or the estate.
2. For the purpose of bringing actions to
quiet title or for partition of the estate, the possession of the personal
representative shall be deemed the possession of the heirs or devisees. The
possession of heirs or devisees is subject, however, to the possession of the
personal representative for all other purposes.
3. A personal representative shall not
take into possession any assets held by a guardian of the decedent pursuant to chapter 159 of NRS until the guardianship is
terminated according to the provisions of NRS
159.1905 or 159.191 and the
guardian is ordered to distribute the assets to the personal representative.
[191:107:1941; 1931 NCL § 9882.191]—(NRS A 1999, 2290; 2009, 1665)
NRS 143.035 Duty to use reasonable diligence; report required if estate not
closed within certain times; hearing and determinations by court.
1. A personal representative shall use
reasonable diligence in performing the duties of the personal representative
and in pursuing the administration of the estate.
2. A personal representative in charge of
an estate that has not been closed shall:
(a) Within 6 months after the personal
representative’s appointment, where no federal estate tax return is required to
be filed for the estate; or
(b) Within 15 months after the personal
representative’s appointment, where a federal estate tax return is required to
be filed for the estate,
Ê file with
the court a report explaining why the estate has not been closed.
3. Upon receiving the report, the clerk
shall set a time and place for a hearing of the report. The personal
representative shall send a copy of the report and shall give notice of the
hearing, for the period and in the manner provided in NRS 155.010, to:
(a) Each person whose interest is affected as an
heir or devisee; and
(b) The Department of Health and Human Services,
if the Department has filed a claim against the estate.
4. At the hearing, the court shall
determine whether or not the personal representative has used reasonable
diligence in the administration of the estate, and if the personal
representative has not, the court may:
(a) Subject to the provisions of NRS 143.037:
(1) Prescribe the time within which the
estate must be closed; or
(2) Allow the personal representative
additional time for closing and order a subsequent report; or
(b) Revoke the letters of the personal
representative, appoint a successor and prescribe a reasonable time within
which the successor shall close the estate.
(Added to NRS by 1975, 1765; A 1997, 336; 1999, 2290; 2003, 880)
NRS 143.037 Duty to close estate within 18 months after appointment;
exceptions.
1. Except
as otherwise provided in this section, a personal representative shall close an
estate within 18 months after appointment.
2. If
a claim against the estate is in litigation or in summary determination
pursuant to subsection 5 of NRS 145.060
or subsection 2 of NRS 147.130 or the
amount of federal estate tax has not been determined, the court, upon petition
of a devisee, creditor or heir, shall order that:
(a) A
certain amount of money, or certain other assets, be retained by the personal
representative to:
(1) Satisfy
the claim or tax; and
(2) Pay
any fees or costs related to the claim or tax, including fees for appraisals,
attorney’s fees and court costs; and
(b) The
remainder of the estate be distributed.
3. If
a contest of the will or a proceeding to determine heirship is pending, the
court which appointed the personal representative:
(a) Shall
order that a certain amount of money, or certain other assets, be retained and
the remainder of the estate distributed; or
(b) May, for good cause shown, order that the
entire distributable estate be retained pending disposition of the contest or
proceeding.
(Added to NRS by 1997, 335; A 1999, 2291; 2001, 2344)
NRS 143.040 Rights of surviving partner.
1. If a partnership existed between the
decedent, at the time of death, and any other person, the surviving partner may
continue in possession of the effects of the partnership and settle its
business, but the interest of the decedent must be included in the inventory
and appraised as an asset of the estate.
2. The surviving partner shall proceed to
settle the affairs of the partnership without delay, and shall account to the
personal representative and pay over such balance as may be, from time to time,
payable to the estate of the decedent.
3. Upon the petition of the personal
representative, the court may, whenever it may appear necessary, order the
surviving partner to render an accounting, and in case of neglect or refusal,
may, after notice, compel it by any lawful process, and the personal
representative may maintain against the surviving partner any action which the
decedent could have maintained.
4. Upon any sale of a partnership
interest, the surviving partner may be a bidder.
[Part 195:107:1941; 1931 NCL § 9882.195]—(NRS A 1999, 2291)
NRS 143.050 Continuing business of
decedent. Except as otherwise
provided in NRS 143.520, after notice given as
provided in NRS 155.010 or in such
other manner as the court directs, the court may authorize the personal
representative to continue the operation of the decedent’s business to such an
extent and subject to such restrictions as may seem to the court to be for the
best interest of the estate and any interested persons.
[Part 195:107:1941; 1931 NCL § 9882.195]—(NRS A 1975,
1766; 1999,
2292; 2011,
1454)
NRS 143.060 Extent of power to sue and be sued. Actions
for the recovery of any property, real or personal, or for the possession thereof,
or to quiet title thereto, or to determine any adverse claim thereon, and all
actions founded upon contracts, may be maintained by and against a personal
representative in all cases in which the actions might have been maintained by
or against the decedent.
[192:107:1941; 1931 NCL § 9882.192]—(NRS A 1999, 2292)
NRS 143.065 Statute of limitations for cause of action of decedent. A statute of limitations running on a cause of
action belonging to a decedent, that was not barred as of the date of death,
does not bar the cause of action sooner than 1 year after the death. A cause of
action that, but for this section, would be barred less than 1 year after the
death of the decedent is barred after 1 year unless the running of the statute
is tolled under other law.
(Added to NRS by 1999, 2289; A 2003, 2510)
NRS 143.070 Actions by personal representative for conversion or trespass.
1. A personal representative may commence
or maintain an action against any person who has wasted, destroyed, taken,
carried away or converted the goods of the decedent.
2. A personal representative may also
commence or maintain an action for trespass committed on the real property of
the decedent while living.
[193:107:1941; 1931 NCL § 9882.193]—(NRS A 1999, 2292)
NRS 143.080 Actions against personal representative for conversion or
trespass. Any person or the
personal representative has a right of action against the personal representative
of a decedent who, in the lifetime of the decedent wasted, destroyed, took,
carried away or converted the goods or chattels of that person, or committed
any trespass on the real property of that person.
[194:107:1941; 1931 NCL § 9882.194]—(NRS A 1999, 2292)
NRS 143.090 Action on bond of former personal representative. A successor personal representative may, for
the use and benefit of all interested persons, maintain an action on the bond
of a former personal representative of the same estate.
[196:107:1941; 1931 NCL § 9882.196]—(NRS A 1999, 2292)
NRS 143.100 Action for conversion before letters granted. If any person, before the granting of letters,
converts, takes or alienates any of the money, goods, chattels or effects of a
decedent, that person is chargeable and liable to an action by the personal
representative for triple the value of the property so converted, taken or
alienated, to be recovered for the benefit of the estate.
[107:107:1941; 1931 NCL § 9882.107]—(NRS A 1999, 2292; 2007, 895)
NRS 143.110 Procedure when conversion alleged: Citation; examination;
allowance of necessary expenses.
1. If a personal representative or other
interested person alleges in a petition to the court that any person has, or is
suspected to have, concealed, converted, conveyed away or otherwise disposed of
any money, goods, chattels or effects of the decedent, or that the person has
possession or knowledge of any deeds, conveyances, bonds, contracts or other
writings which contain evidence of, or tend to disclose the right, title or
interest of the decedent in or to any real or personal property, or any claim
or demand, or any last will of the decedent, the court may cause that person to
be cited to appear before the court to answer, upon oath, upon the matter of
the petition.
2. If the person is not in the county
where letters have been granted, the person may be cited and examined either
before the court of the county where the person may be found, or before the
court issuing the citation. If the person appears, and is found innocent, his
or her necessary expenses must be allowed out of the estate.
[108:107:1941; 1931 NCL § 9882.108]—(NRS A 1999, 2293)
NRS 143.120 Procedure when conversion alleged: Commitment for refusal to
appear for examination; order requiring delivery of property to personal
representative.
1. If the person so cited refuses to
appear and submit to examination or to testify concerning the matter of the
complaint, the court may commit the person to the county jail, there to remain
confined until the person obeys the order of the court or is discharged
according to law.
2. If, upon examination, it appears that
the person has concealed, converted, smuggled, conveyed away, or in any manner
disposed of any money, goods or chattels of the decedent, or that the person
has possession or control of any deeds, conveyances, bonds, contracts or other
writings which contain evidence of, or tend to disclose the right, title,
interest or claim of the decedent to any real or personal property, claim or
demand, or any last will of the decedent, the court may enter an order
requiring the person to deliver any such property or effects to the personal representative
at such time as the court may fix. If the person fails to comply with the
order, the court may commit the person to the county jail until the order is
complied with or the person is discharged according to law.
3. The order of the court for the delivery
of the property is prima facie evidence of the right of the personal
representative to the property in any action that may be brought for its
recovery, and any judgment recovered must be for treble damages equal to three
times the value of the property.
4. In addition to the examination of the
party, witnesses may be produced and examined on either side.
[109:107:1941; 1931 NCL § 9882.109]—(NRS A 1999, 2293; 2003, 2511)
NRS 143.130 Accounting by person holding assets of estate for personal
representative; penalty for failure or refusal to comply with order. The court, upon the petition of a personal
representative, may require any person entrusted by the personal representative
with any part of the estate of the decedent to appear before the court and
render on oath a full accounting of any money, goods, chattels, bonds,
accounts, or other papers or effects belonging to the estate which have come
into the possession of the person in trust for the personal representative. If
the person so cited fails or refuses to appear and render the accounting, the
court may proceed against the person as provided in NRS
143.120.
[110:107:1941; 1931 NCL § 9882.110]—(NRS A 1999, 2294)
NRS 143.140 Discharging debtor of estate, compromising claims and renewing
obligations: Procedure.
1. Except as otherwise provided in NRS 143.440, 143.455, 143.465, 143.650 or 143.655, if a debtor of the decedent is unable to pay
all debts, the personal representative, with the approval of the court, may
give the person a discharge upon such terms as may appear to the court to be
for the best interest of the estate.
2. A compromise may also be authorized by
the court when it appears to be just and for the best interest of the estate.
3. The court may also authorize the
personal representative, on such terms and conditions as may be approved by it,
to extend or renew, or in any manner modify the terms of, any obligation owing
to or running in favor of the decedent or the estate of the decedent.
4. To obtain approval or authorization the
personal representative shall file a petition showing the advantage of the
settlement, compromise, extension, renewal or modification. The clerk shall set
the petition for hearing by the court, and the petitioner shall give notice for
the period and in the manner required by NRS
155.010.
[198:107:1941; 1931 NCL § 9882.198]—(NRS A 1999, 2294; 2011, 1454)
NRS 143.150 Action to recover fraudulently conveyed property for benefit of
creditors.
1. If the decedent conveyed any real
property or any rights or interests therein, with intent to defraud creditors
or to avoid any obligation, debt or duty owed another, or so conveyed the
property that by law the deeds of conveyance are void as against creditors, or
made a gift of property in contemplation of death, and there is a deficiency of
assets in the hands of the personal representative to pay all the expenses and
debts of the estate, the personal representative, on petition of any creditor,
shall commence and prosecute to final judgment any proper action for the
recovery of the property for the benefit of the creditors.
2. The personal representative may also,
for the benefit of the creditors, maintain an action for and recover all goods,
chattels, rights or credits, or their value, which may have been so
fraudulently conveyed by the decedent, whatever may have been the manner of
fraudulent conveyance.
[199:107:1941; 1931 NCL § 9882.199]—(NRS A 1999, 2294)
NRS 143.160 Costs; disposal of property recovered; proceeds.
1. A personal representative is not bound
to maintain an action for the estate, pursuant to NRS
143.150, for the benefit of the creditors, unless a creditor of the
decedent:
(a) Files a petition; and
(b) Pays the costs and expense of the litigation
or gives such security as the court directs.
2. All real property so recovered must be
sold for the payment of debts in the same manner as prescribed in this title
for sales of real property by personal representatives.
3. The proceeds of all goods, chattels,
rights or credits so received, after reimbursement of costs and expenses of
litigation advanced by the creditor, must be applied in payment of debts in the
same manner as other personal property in the hands of a personal
representative.
[200:107:1941; 1931 NCL § 9882.200] + [201:107:1941;
1931 NCL § 9882.201]—(NRS A 1999, 2295)
NRS 143.165 Temporary order to restrain personal representative from
performing administration, disbursement or distribution of estate: Issuance;
hearing.
1. On petition of an interested person,
the court by temporary order may restrain a personal representative from
performing specified acts of administration, disbursement or distribution, or
exercising any powers or discharging any duties of the office, or enter any
other order to secure proper performance of the duties of the office, if it
appears to the court that the personal representative otherwise may take some
action that would jeopardize unreasonably the interest of the petitioner or of
some other interested person. A person with whom the personal representative
may transact business may be made a party to the temporary order.
2. The matter must be set for hearing
within 10 days after entry of the temporary order unless the parties otherwise
agree. Notice as the court directs must be given by the petitioner to the
personal representative and the attorney of record of the personal
representative, if any, and to any other party named as a party in the
temporary order.
(Added to NRS by 1997, 1485; A 1999, 2295)
NRS 143.170 Purchase of property of estate by personal representative. Unless approved in advance by a court after
application, notice and a hearing on the matter, a personal representative
shall not directly or indirectly purchase any property of the estate
represented by the personal representative.
[190:107:1941; 1931 NCL § 9882.190]—(NRS A 1999, 2295; 2001, 2345)
NRS 143.175 Power to make certain investments.
1. Except as otherwise provided in NRS 143.515, a personal representative may, with court
approval:
(a) Invest the property of the estate, make loans
and accept security therefor, in the manner and to the extent authorized by the
court; and
(b) Exercise options of the estate to purchase or
exchange securities or other property.
2. A personal representative may, without
prior approval of the court, invest the property of the estate in:
(a) Savings accounts in a bank, credit union or
savings and loan association in this State, to the extent that the deposit is
insured by the Federal Deposit Insurance Corporation, the National Credit Union
Share Insurance Fund or a private insurer approved pursuant to NRS 678.755;
(b) Interest-bearing obligations of, or fully
guaranteed by, the United States;
(c) Interest-bearing obligations of the United
States Postal Service or the Federal National Mortgage Association;
(d) Interest-bearing obligations of this State or
of a county, city or school district of this State;
(e) Money-market mutual funds that are invested
only in obligations listed in paragraphs (a) to (d), inclusive; or
(f) Any other investment authorized by the will
of the decedent.
(Added to NRS by 1975, 1766; A 1999, 1458, 2295; 2001, 91; 2011, 1454)
NRS 143.180 Power to make loans, advances of credit and other investments
insured by Federal Housing Administrator; validation of loans, advances of
credit and purchases of obligations made before October 1, 1999.
1. Subject to such regulations as may be prescribed
by the Federal Housing Administrator, a personal representative may:
(a) Make such loans and advances of credit, and
purchases of obligations representing the loans and advances of credit, as are
eligible for insurance by the Federal Housing Administrator, and obtain such
insurance.
(b) Make such loans secured by mortgage on real
property as are eligible for insurance by the Federal Housing Administrator,
and obtain such insurance.
(c) Purchase, invest in, and dispose of notes or
bonds secured by mortgage insured by the Federal Housing Administrator,
securities of national mortgage associations, and debentures issued by the
Federal Housing Administrator.
2. No law of this State prescribing the
nature, amount or form of security or requiring security upon which loans or
advances of credit may be made, or prescribing or limiting interest rates upon
loans or advances of credit, or prescribing or limiting the period for which
loans or advances of credit may be made, applies to loans, advances of credit
or purchases made pursuant to subsection 1.
3. All above-described loans, advances of
credit, and purchases of obligations made and insured pursuant to the terms of
the National Housing Act before October 1, 1999, are hereby validated and
confirmed.
[Part 1:58:1935; A 1937, 147; 1939, 43; 1931 NCL §
3652.01] + [Part 2:58:1935; 1931 NCL § 3652.02] + [3:58:1935; 1931 NCL §
3652.03]—(NRS A 1999,
2296)
NRS 143.185 Power to invest in farm
loan bonds and other obligations issued by federal land banks and banks for
cooperatives. A personal
representative may purchase, invest in, and dispose of:
1. Farm
loan bonds, consolidated farm loan bonds, debentures, consolidated debentures
and other obligations issued by federal land banks and federal intermediate
credit banks under the authority of the Federal Farm Loan Act, formerly 12
U.S.C. §§ 636 to 1012, inclusive, and §§ 1021 to 1129, inclusive, and the Farm
Credit Act of 1971, 12 U.S.C. §§ 2001 et seq., as amended; and
2. Bonds, debentures, consolidated
debentures and other obligations issued by banks for cooperatives under the
authority of the Farm Credit Act of 1933, formerly 12 U.S.C. §§ 1131 to 1138e,
inclusive, and the Farm Credit Act of 1971, 12 U.S.C. §§ 2001 et seq., as
amended.
(Added to NRS by 1959, 33; A 1973, 1088; 1991, 461; 1999, 2297)
NRS 143.187 Power to hold stock in name of nominee; personal liability of
personal representative.
1. A personal representative holding
certificates of stock in that capacity may hold the stock in the name of a
nominee without mention in the stock certificate or registration books, if:
(a) The records of the personal representative
and all reports and accountings the personal representative renders clearly
show the holding and the facts regarding it; and
(b) The nominee deposits with the personal
representative a signed statement of the true interest of the personal
representative.
2. A personal representative is personally
liable for any loss to the estate resulting from any act of the nominee in
connection with stock so held.
(Added to NRS by 1961, 471; A 1999, 2297)
NRS 143.188 Power to direct termination of certain electronic or digital
accounts or assets.
1. Except as otherwise provided in
subsection 2, subject to such restrictions as may be prescribed in the will of
a decedent or by an order of a court of competent jurisdiction, a personal
representative has the power to direct the termination of any account of the
decedent, including, without limitation:
(a) An account on any:
(1) Social networking Internet website;
(2) Web log service Internet website;
(3) Microblog service Internet website;
(4) Short message service Internet
website; or
(5) Electronic mail service Internet
website; or
(b) Any similar electronic or digital asset of
the decedent.
2. The provisions of subsection 1 do not
authorize a personal representative to direct the termination of any financial
account of the decedent, including, without limitation, a bank account or
investment account.
3. The act by a personal representative to
direct the termination of any account or asset of a decedent pursuant to
subsection 1 does not invalidate or abrogate any conditions, terms of service
or contractual obligations the holder of such an account or asset has with the
provider or administrator of the account, asset or Internet website.
(Added to NRS by 2013, 1524)
NRS 143.190 Cumulative method of service of process on personal
representative; written statement containing permanent address of personal
representative to be filed with clerk.
1. Before letters are delivered to a
personal representative, the personal representative shall file with the county
clerk of the county in which the administration of the estate is pending a
written statement containing the name and permanent address of the personal
representative. The permanent address may, from time to time, be changed by
filing with the county clerk a written statement giving the changed address.
The permanent address shall be deemed to be that contained in the last
statement so filed by the personal representative.
2. The taking of his or her oath of office
by a personal representative constitutes an appointment of the county clerk of
the county in which the administration of the estate is pending to be the true
and lawful attorney, upon whom all legal process in any action or proceeding
against the personal representative may be served, with the same legal force
and effect as if served upon the personal representative personally within the
State of Nevada.
3. Service of process may be made by
mailing by registered or certified mail a copy of the process, and if the
process is a summons, there must be attached thereto a copy of the complaint
certified by the clerk or the plaintiff’s attorney, directly to the personal
representative at the address contained in the statement filed with the clerk.
This service is sufficient personal service upon the personal representative if
proof of the service is filed with the clerk.
4. The court in which the action is
pending may order such continuances as may be necessary to afford the personal
representative reasonable opportunity to defend the action.
5. The foregoing method of service is
cumulative, and does not prevent the personal service of process upon the
personal representative within the State of Nevada.
[324:107:1941; 1931 NCL § 9882.324]—(NRS A 1969, 95;
1983, 262; 1999,
2297)
NRS 143.200 Actions not to abate on death, disqualification, resignation or
removal of personal representative; substitution of successor. No action to which a personal representative
is a party abates by reason of the death, disqualification, resignation or
removal of the personal representative, but the person who is appointed,
qualifies and is acting as the successor must, upon motion, be substituted as a
party to the action.
[325:107:1941; 1931 NCL § 9882.325]—(NRS A 1999, 2298)
NRS 143.210 Necessary parties to actions. In
actions brought by or against personal representatives, it is not necessary to
join those as parties who have not qualified.
[197:107:1941; 1931 NCL § 9882.197]—(NRS A 1999, 2298)
INDEPENDENT ADMINISTRATION OF ESTATES
General Provisions
NRS 143.300 Short title. NRS 143.300 to 143.815,
inclusive, may be cited as the Independent Administration of Estates Act.
(Added to NRS by 2011, 1437)
NRS 143.305 Definitions. As
used in NRS 143.300 to 143.815,
inclusive, unless the context otherwise requires, the words and terms defined
in NRS 143.310, 143.315
and 143.320 have the meanings ascribed to them in
those sections.
(Added to NRS by 2011, 1437)
NRS 143.310 “Court supervision” defined. “Court
supervision” means the judicial order, authorization, approval, confirmation or
instructions that would be required if authority to administer the estate had
not been granted pursuant to NRS 143.300 to 143.815, inclusive.
(Added to NRS by 2011, 1437)
NRS 143.315 “Full authority” defined. “Full
authority” means the authority to administer the estate pursuant to NRS 143.300 to 143.815,
inclusive, that includes all the powers granted pursuant to NRS 143.300 to 143.815,
inclusive.
(Added to NRS by 2011, 1437)
NRS 143.320 “Limited authority” defined. “Limited
authority” means authority to administer the estate pursuant to NRS 143.300 to 143.815,
inclusive, that includes all the powers granted pursuant to NRS 143.300 to 143.815,
inclusive, except the power to do any of the following:
1. Sell real property.
2. Exchange real property.
3. Grant an option to purchase real
property.
4. Borrow money with the loan secured by
an encumbrance upon real property.
(Added to NRS by 2011, 1437)
NRS 143.325 Applicability. The
provisions of NRS 143.300 to 143.815,
inclusive, apply in any case where authority to administer the estate is
granted pursuant to NRS 143.300 to 143.815, inclusive.
(Added to NRS by 2011, 1437)
NRS 143.330 Effect of provision in will that prohibits independent
administration of estate. The
personal representative may not be granted authority to administer the estate
pursuant to NRS 143.300 to 143.815,
inclusive, if the decedent’s will provides that the estate must not be
administered pursuant to NRS 143.300 to 143.815, inclusive.
(Added to NRS by 2011, 1437)
NRS 143.335 Independent administration of estate by special administrator. A special administrator may be granted
authority to administer the estate pursuant to NRS
143.300 to 143.815, inclusive, if the special
administrator is appointed with, or has been granted, the powers of a general
personal representative.
(Added to NRS by 2011, 1437)
NRS 143.340 Personal representative required to petition for full or limited
authority to administer estate.
1. To obtain authority to administer the
estate pursuant to NRS 143.300 to 143.815, inclusive, the personal representative must
petition the court for that authority in a petition for appointment of the
personal representative or in a separate petition filed in the estate
proceedings.
2. The personal representative may request
either of the following:
(a) Full authority to administer the estate
pursuant to NRS 143.300 to 143.815,
inclusive; or
(b) Limited authority to administer the estate
pursuant to NRS 143.300 to 143.815,
inclusive.
(Added to NRS by 2011, 1437)
NRS 143.345 Notice of hearing on petition; persons required to receive
notice; contents.
1. If the authority to administer the
estate pursuant to NRS 143.300 to 143.815, inclusive, is requested in a petition for
appointment of the personal representative, notice of the hearing on the
petition must be given for the period and in the manner applicable to the
petition for appointment.
2. Where proceedings for the
administration of the estate are pending at the time a petition is filed
pursuant to NRS 143.340, notice of the hearing on
the petition must be given for the period and in the manner provided in NRS 155.010 to all the following persons:
(a) Each person specified in NRS 155.010;
(b) Each known heir whose interest in the estate
would be affected by the petition;
(c) Each known devisee whose interest in the
estate would be affected by the petition; and
(d) Each person named as personal representative
in the will of the decedent.
3. The notice of hearing of the petition
for authority to administer the estate pursuant to NRS
143.300 to 143.815, inclusive, whether included
in the petition for appointment or in a separate petition, must include a
statement in substantially the following form:
The petition requests
authority to administer the estate under the Independent Administration of
Estates Act. This will avoid the need to obtain court approval for many actions
taken in connection with the estate. However, before taking certain actions,
the personal representative will be required to give notice to interested
persons unless they have waived notice or have consented to the proposed
action. Independent administration authority will be granted unless good cause
is shown why it should not be.
(Added to NRS by 2011, 1437)
NRS 143.350 Court required to grant requested authority; exceptions.
1. Except as otherwise provided in
subsection 2, unless an interested person objects in writing at or before the
hearing to the granting of authority to administer the estate pursuant to NRS 143.300 to 143.815,
inclusive, and the court determines that the interested person has shown good
cause why the authority to administer the estate under those provisions should
not be granted, the court shall grant the requested authority.
2. If the interested person has shown good
cause why only limited authority should be granted, the court shall grant
limited authority.
(Added to NRS by 2011, 1438)
NRS 143.355 Amount of bond of personal representative.
1. If the personal representative is
otherwise required to file a bond and has full authority, the court shall fix
the amount of the bond at not more than the estimated value of the personal
property, the estimated value of the decedent’s interest in the real property
authorized to be sold pursuant to NRS 143.300 to 143.815, inclusive, and the probable annual gross
income of the estate or, if the bond is to be given by personal sureties, at
not less than twice that amount.
2. If the personal representative is
otherwise required to file a bond and has limited authority, the court shall
fix the amount of the bond at not more than the estimated value of the personal
property and the probable annual gross income of the estate or, if the bond is
to be given by personal sureties, at not less than twice that amount.
(Added to NRS by 2011, 1438)
NRS 143.360 Petition for modification or revocation of authority of personal
representative; notice; court order.
1. Any interested person may file a
petition requesting that the court make either of the following orders:
(a) An order revoking the authority of the
personal representative to continue administration of the estate pursuant to NRS 143.300 to 143.815,
inclusive; or
(b) An order revoking the full authority of the
personal representative to administer the estate pursuant to NRS 143.300 to 143.815,
inclusive, and granting the personal representative limited authority to
administer the estate pursuant to NRS 143.300 to 143.815, inclusive.
2. The petition must set forth the basis
for the requested order.
3. The petitioner shall give notice for
the period and in the manner provided in NRS
155.010.
4. If the court determines that good cause
has been shown, the court shall make an order revoking the authority of the
personal representative to continue administration of the estate pursuant to NRS 143.300 to 143.815,
inclusive. Upon the making of the order, new letters must be issued without the
authority to act pursuant to NRS 143.300 to 143.815, inclusive.
5. If the personal representative was
granted full authority and the court determines that good cause has been shown,
the court shall make an order revoking the full authority and granting the
personal representative limited authority. Upon the making of the order, new
letters must be issued indicating whether the personal representative is
authorized to act pursuant to NRS 143.300 to 143.815, inclusive, and, if so authorized, whether the
independent administration authority includes or excludes the power to do any
of the following:
(a) Sell real property;
(b) Exchange real property;
(c) Grant an option to purchase real property; or
(d) Borrow money with the loan secured by an
encumbrance upon real property.
(Added to NRS by 2011, 1438)
NRS 143.365 Authority to administer estate without court supervision;
request for court supervision.
1. Subject to the limitations and
conditions of NRS 143.300 to 143.815,
inclusive, a personal representative who has been granted authority to
administer the estate pursuant to NRS 143.300 to 143.815, inclusive, may administer the estate as
provided pursuant to NRS 143.300 to 143.815, inclusive, without court supervision, but in
all other respects, the personal representative shall administer the estate in
the same manner as a personal representative who has not been granted authority
to administer the estate pursuant to NRS 143.300 to
143.815, inclusive.
2. Notwithstanding the provisions of
subsection 1, the personal representative may obtain court supervision of any
action to be taken by the personal representative during administration of the
estate.
(Added to NRS by 2011, 1439)
NRS 143.370 Court approval or supervision required for certain actions;
exceptions.
1. Notwithstanding any provision of NRS 143.300 to 143.815,
inclusive, to the contrary, whether the personal representative has been
granted limited authority or full authority, a personal representative who has
obtained authority to administer the estate pursuant to NRS
143.300 to 143.815, inclusive, is required to
obtain court approval for any of the following actions:
(a) Allowance of the personal representative’s
compensation;
(b) Allowance of compensation of the attorney for
the personal representative;
(c) Settlement of accounts;
(d) Preliminary and final distributions and
discharge;
(e) Sale of property of the estate to the
personal representative or to the attorney for the personal representative;
(f) Exchange of property of the estate for
property of the personal representative or for property of the attorney for the
personal representative;
(g) Grant of an option to purchase property of
the estate to the personal representative or to the attorney for the personal
representative;
(h) Allowance, payment or compromise of a claim
of the personal representative, or the attorney for the personal
representative, against the estate;
(i) Compromise or settlement of a claim, action
or proceeding by the estate against the personal representative or against the
attorney for the personal representative;
(j) Extension, renewal or modification of the
terms of a debt or other obligation of the personal representative, or the
attorney for the personal representative, owing to or in favor of the decedent
or the estate; and
(k) Any transaction described in this section
that would indirectly benefit the personal representative, a relative of the
personal representative, the attorney for the personal representative or the
attorney for a relative of the personal representative.
2. Notwithstanding any provision of NRS 143.300 to 143.815,
inclusive, to the contrary, a personal representative who has obtained limited
authority to administer the estate pursuant to NRS
143.300 to 143.815, inclusive, is required to
obtain court supervision for any of the following actions:
(a) Sale of real property;
(b) Exchange of real property;
(c) Grant of an option to purchase real property;
and
(d) Borrowing money with the loan secured by an
encumbrance upon real property.
3. Paragraphs (e) to (k), inclusive, of
subsection 1 do not apply to a transaction between the personal representative
in his or her capacity as a personal representative and the personal
representative as a person if all the following requirements are satisfied:
(a) The personal representative is the sole
beneficiary of the estate or all the known heirs or devisees have consented to
the transaction;
(b) The period for filing creditor claims has
expired;
(c) No request for special notice pursuant to NRS 155.030 is on file or all persons who
filed a request for special notice have consented to the transaction; and
(d) The claim of each creditor who filed a claim
has been paid, settled or withdrawn, or the creditor has consented to the
transaction.
4. As used in this section, “relative” has
the meaning ascribed to it in NRS 163.020.
(Added to NRS by 2011, 1439)
NRS 143.375 Powers of personal representative granted independent
administration authority.
1. Subject to the conditions and
limitations of NRS 143.300 to 143.815, inclusive, and to the duties and liabilities
of the personal representative, a personal representative who has been granted
authority to administer the estate pursuant to NRS
143.300 to 143.815, inclusive, has the powers
described in:
(a) NRS 143.400 to 143.465, inclusive, with regard to powers that are
exercisable only after giving a notice of proposed action;
(b) NRS 143.500 to 143.540, inclusive, with regard to powers the exercise
of which requires giving a notice of proposed action under certain
circumstances; and
(c) NRS 143.600 to 143.655, inclusive, with regard to powers that are
exercisable without giving a notice of proposed action.
2. The will may restrict the powers that
the personal representative may exercise pursuant to NRS
143.300 to 143.815, inclusive.
(Added to NRS by 2011, 1440)
NRS 143.380 Sale of property of estate; court confirmation of sales not
required.
1. Subject to the limitations and
requirements of NRS 143.300 to 143.815, inclusive, when the personal representative
exercises the authority to sell property of the estate pursuant to NRS 143.300 to 143.815,
inclusive, the personal representative may sell the property at public auction
or private sale, and with or without notice, for cash or on credit, for such
price and upon such terms and conditions as the personal representative may
determine.
2. The requirements applicable to court
confirmation of sales of real property referenced in subsection 1 include,
without limitation:
(a) Publication of the notice of sale;
(b) Court approval of agents’ and brokers’
commissions;
(c) The sale being not less than 90 percent of
appraised value of the real property;
(d) An examination by the court into the
necessity for the sale of the real property, including, without limitation, any
advantage to the estate and benefit to interested persons; and
(e) The efforts of the personal representative to
obtain the highest and best price for the property reasonably attainable.
3. The requirements applicable to court
confirmation of sales of real property and sales of personal property do not
apply to a sale pursuant to this section.
(Added to NRS by 2011, 1441)
Powers Exercisable Only After Giving Notice of Proposed
Action
NRS 143.400 Requirements for exercise of powers by personal representative. The personal representative may exercise the
powers described in NRS 143.400 to 143.465, inclusive, only if the requirements of NRS 143.700 to 143.760,
inclusive, are satisfied.
(Added to NRS by 2011, 1441)
NRS 143.405 Sale or exchange of real property. The
personal representative who has full authority has the power to sell or
exchange real property of the estate.
(Added to NRS by 2011, 1441)
NRS 143.410 Sale or incorporation of business or joint venture. The personal representative who has limited
authority or full authority has the power to sell or incorporate any of the
following:
1. An unincorporated business or joint
venture in which the decedent was engaged at the time of the decedent’s death;
and
2. An unincorporated business or joint
venture which was wholly or partly owned by the decedent at the time of the decedent’s
death.
(Added to NRS by 2011, 1441)
NRS 143.415 Abandonment of tangible personal property. The personal representative who has limited
authority or full authority has the power to abandon tangible personal property
where the cost of collecting, maintaining and safeguarding the property would
exceed its fair market value.
(Added to NRS by 2011, 1441)
NRS 143.420 Power to borrow and to encumber property of estate.
1. Subject to the
limitations provided in subsection 2 and NRS 143.180,
the personal representative who has limited authority or full authority has the
following powers:
(a) The power to borrow; and
(b) The power to place, replace, renew or extend
any encumbrance upon any property of the estate.
2. Only a personal representative who has
full authority has the power to borrow money with the loan secured by an
encumbrance upon real property.
(Added to NRS by 2011, 1441)
NRS 143.425 Grant of option to purchase real property of estate. The personal representative who has full
authority has the power to grant an option to purchase real property of the
estate for a period within or beyond the period of administration.
(Added to NRS by 2011, 1441)
NRS 143.430 Transfer of property to person exercising option to purchase
provided in will. If the will
gives a person the option to purchase real or personal property and the person
has complied with the terms and conditions stated in the will, the personal
representative who has limited authority or full authority has the power to
convey or transfer the property to the person.
(Added to NRS by 2011, 1442)
NRS 143.435 Conveyance or transfer of real or personal property under
certain circumstances. The
personal representative who has limited authority or full authority has the
power to convey or transfer real or personal property to complete a contract
entered into by the decedent to convey or transfer the property.
(Added to NRS by 2011, 1442)
NRS 143.440 Determination of claims to property. The
personal representative who has limited authority or full authority has the
power to allow, compromise or settle any of the following:
1. A third-party claim to real or personal
property if the decedent died in possession of, or holding title to, the
property; or
2. The decedent’s claim to real or personal
property, title to or possession of which is held by another.
(Added to NRS by 2011, 1442)
NRS 143.445 Disclaimers. The
personal representative who has limited authority or full authority has the
power to make a disclaimer.
(Added to NRS by 2011, 1442)
NRS 143.450 Preliminary distributions authorized under certain
circumstances. If the time for
filing creditor claims has expired and it appears that the distribution may be
made without loss to creditors or injury to the estate or any interested
person, the personal representative who has limited authority or full authority
has the power to make preliminary distributions of the following:
1. Income received during administration
to the persons entitled thereto pursuant to the decedent’s will or by intestate
succession.
2. Household furniture and furnishings,
motor vehicles, clothing, jewelry and other tangible articles of a personal
nature to the persons entitled to the property under the decedent’s will, not
to exceed an aggregate fair market value to all persons of $50,000 computed
cumulatively through the date of distribution. Fair market value must be
determined on the basis of the inventory and appraisal.
3. Cash to general pecuniary devisees
entitled to it under the decedent’s will, not to exceed $10,000 to any one
person.
(Added to NRS by 2011, 1442)
NRS 143.455 Actions concerning claims by, for the benefit of, or against the
estate. The personal
representative who has limited authority or full authority has the power to do
all the following:
1. Allow, pay, reject or contest any claim
by or against the estate.
2. Compromise or settle a claim, action or
proceeding by or for the benefit of, or against, the decedent, the personal
representative or the estate.
3. Release, in whole or in part, any claim
belonging to the estate to the extent that the claim is uncollectible.
4. Allow a claim to be filed after the
expiration of the time for filing the claim.
(Added to NRS by 2011, 1442)
NRS 143.460 Commencement and defense of certain actions and proceedings. The personal representative who has limited
authority or full authority has the power to do all the following:
1. Commence and maintain actions and
proceedings for the benefit of the estate.
2. Defend actions and proceedings against
the decedent, the personal representative or the estate.
(Added to NRS by 2011, 1442)
NRS 143.465 Modification of terms of obligation to or in favor of decedent. The personal representative who has limited
authority or full authority has the power to extend, renew or in any manner
modify the terms of an obligation owing to or in favor of the decedent or the
estate.
(Added to NRS by 2011, 1442)
Powers the Exercise of Which Require Giving
Notice of Proposed Action Under Certain Circumstances
NRS 143.500 Exercise of powers by personal representative; exceptions. Except as otherwise provided in NRS 143.500 to 143.540,
inclusive, the personal representative who has limited authority or full
authority may exercise the powers described in NRS
143.500 to 143.540, inclusive, without giving
notice of the proposed action pursuant to NRS 143.700
to 143.760, inclusive.
(Added to NRS by 2011, 1443)
NRS 143.505 Management and control of estate property.
1. The personal representative who has
limited authority or full authority has the power to manage and control
property of the estate, including making allocations and determinations
pursuant to NRS 164.780 to 164.925, inclusive. Except as otherwise
provided in subsection 2, such a personal representative may exercise this
power without giving notice of the proposed action pursuant to NRS 143.700 to 143.760,
inclusive.
2. The personal representative shall
comply with the requirements of NRS 143.700 to 143.760, inclusive, and shall give notice of a
proposed action in any case where a provision of NRS
143.400 to 143.450, inclusive, governing the
exercise of a specific power so requires.
(Added to NRS by 2011, 1443)
NRS 143.510 Power to enter contracts without notice; exception.
1. The personal representative who has
limited authority or full authority has the power to enter into a contract to
carry out the exercise of a specific power granted pursuant to NRS 143.300 to 143.815,
inclusive, including, without limitation, the powers granted by NRS 143.505 and 143.605.
Except as otherwise provided in subsection 2, the personal representative may
exercise this power without giving notice of the proposed action pursuant to NRS 143.700 to 143.760,
inclusive.
2. The personal representative shall
comply with the requirements of NRS 143.700 to 143.760, inclusive, and shall give notice of a
proposed action where the contract is one that by its provisions is not to be
fully performed within 2 years after the date the parties entered into the
contract, except that the personal representative is not required to comply
with those requirements if the personal representative has the unrestricted
right under the contract to terminate the contract within 2 years after the
date the parties entered into the contract.
3. Nothing in this section excuses
compliance with the requirements of NRS 143.700 to 143.760, inclusive, when the contract is made to carry
out the exercise of a specific power, and the provision that grants that power
requires compliance with NRS 143.700 to 143.760, inclusive, for the exercise of the power.
(Added to NRS by 2011, 1443)
NRS 143.515 Deposit and investment of money of estate.
1. The personal representative who has
limited authority or full authority has the power to do all the following:
(a) Deposit money belonging to the estate in an
insured account in a financial institution in this State;
(b) Invest money of the estate in any one or more
of the following:
(1) Direct obligations of the United
States, or of the State of Nevada, maturing not later than 1 year after the
date of making the investment;
(2) Savings accounts in a bank, credit
union or savings and loan association in this State, to the extent that the
deposit is insured by the Federal Deposit Insurance Corporation, the National
Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 678.755;
(3) Interest-bearing obligations of, or
fully guaranteed by, the United States;
(4) Interest bearing obligations of the
United States Postal Service or the Federal National Mortgage Association;
(5) Interest-bearing obligations of this
State or of a county, city or school district of this State; or
(6) Money-market mutual funds that are
invested only in obligations listed in subparagraphs (1) to (5), inclusive; or
(c) Invest money of the estate in any manner
provided by the will.
2. The personal representative may
exercise the powers described in subsection 1 without giving notice of a
proposed action pursuant to NRS 143.700 to 143.760, inclusive.
(Added to NRS by 2011, 1443)
NRS 143.520 Continuation of partnership or other business.
1. Subject to the partnership agreement
and the applicable provisions of chapter 87
of NRS, the personal representative who has limited authority or full authority
has the power to continue as a general partner in any partnership in which the
decedent was a general partner at the time of death.
2. The personal representative who has
limited authority or full authority has the power to continue operation of any
of the following:
(a) An unincorporated business or joint venture
in which the decedent was engaged at the time of the decedent’s death.
(b) An unincorporated business or joint venture
which was wholly or partly owned by the decedent at the time of the decedent’s
death.
3. Except as otherwise provided in
subsection 4, the personal representative may exercise the powers described in
subsections 1 and 2 without giving notice of the proposed action pursuant to NRS 143.700 to 143.760,
inclusive.
4. The personal representative shall give
notice of a proposed action pursuant to NRS 143.700
to 143.760, inclusive, if the personal
representative continues as a general partner under subsection 1, or continues
the operation of any unincorporated business or joint venture under subsection
2, for a period of more than 6 months after the date on which letters are first
issued to a personal representative.
(Added to NRS by 2011, 1444)
NRS 143.525 Payment of family allowance.
1. The personal representative who has
limited authority or full authority has the power to pay a reasonable family
allowance. Except as otherwise provided in subsection 2, the personal
representative may exercise this power without giving notice of the proposed
action pursuant to NRS 143.700 to 143.760, inclusive.
2. The personal representative shall give
notice of a proposed action pursuant to NRS 143.700
to 143.760, inclusive, for all the following:
(a) Making the first payment of a family
allowance.
(b) Making the first payment of a family
allowance for a period commencing more than 12 months after the death of the
decedent.
(c) Making any increase in the amount of the
payment of a family allowance.
(Added to NRS by 2011, 1444)
NRS 143.530 Lease of property of estate.
1. The personal representative who has
limited authority or full authority has the power to enter as lessor into a
lease of property of the estate for:
(a) Any purpose, including, without limitation,
exploration for and production or removal of minerals, oil, gas or other
hydrocarbon substances or geothermal energy, including a community oil lease or
a pooling or unitization agreement;
(b) A period within or beyond the period of
administration; and
(c) Rental or royalty, or both, and upon such
other terms and conditions as the personal representative may determine.
2. Except as otherwise provided in
subsections 3 and 4, the personal representative may exercise this power
without giving notice of the proposed action pursuant to NRS
143.700 to 143.760, inclusive.
3. The personal representative shall give
notice of a proposed action pursuant to NRS 143.700
to 143.760, inclusive, where the personal
representative enters into a lease of real property for a term in excess of 1
year. If the lease gives the lessee the right to extend the term of the lease,
the lease must be considered as if the right to extend has been exercised.
4. The personal representative shall give
notice of a proposed action pursuant to NRS 143.700
to 143.760, inclusive, where the personal
representative enters into a lease of personal property and the lease is one
that by its provisions is not to be fully performed within 2 years after the
date the parties entered into the lease, except that the personal
representative is not required to give notice of a proposed action if the
personal representative has the unrestricted right under the lease to terminate
the lease within 2 years after the date the parties entered into the lease.
(Added to NRS by 2011, 1444)
NRS 143.535 Sale or exchange of personal property.
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.
(Added to NRS by 2011, 1445)
NRS 143.540 Grant of exclusive right to sell property.
1. The personal representative who has
limited authority or full authority has the following powers:
(a) The power to grant an exclusive right to sell
property for a period not to exceed 90 days.
(b) The power to grant to the same broker one or
more extensions of an exclusive right to sell property, each extension being
for a period not to exceed 90 days.
2. Except as otherwise provided in
subsection 3, the personal representative may exercise the powers described in
subsection 1 without giving notice of the proposed action pursuant to NRS 143.700 to 143.760,
inclusive.
3. The personal representative shall give
notice of a proposed action pursuant to NRS 143.700
to 143.760, inclusive, where the personal
representative grants to the same broker an extension of an exclusive right to
sell property and the period of the extension, together with the periods of the
original exclusive right to sell the property and any previous extensions of
that right, is more than 270 days.
(Added to NRS by 2011, 1445)
Powers Exercisable Without Giving Notice of Proposed
Action
NRS 143.600 Exercise of powers by personal representative. The personal representative who has limited
authority or full authority may exercise the powers described in NRS 143.600 to 143.655,
inclusive, without giving notice of the proposed action pursuant to NRS 143.700 to 143.760,
inclusive.
(Added to NRS by 2011, 1446)
NRS 143.605 Additional powers of personal representative. In addition to the powers granted to the
personal representative pursuant to NRS 143.300 to 143.815, inclusive, the personal representative who
has limited authority or full authority has all the powers that the personal
representative could exercise without court supervision if the personal
representative had not been granted authority to administer the estate pursuant
to NRS 143.300 to 143.815,
inclusive.
(Added to NRS by 2011, 1446)
NRS 143.610 Conveyance or transfer of property under certain circumstances. The personal representative who has limited
authority or full authority has the power to convey or transfer property to
carry out the exercise of a specific power granted pursuant to NRS 143.300 to 143.815,
inclusive.
(Added to NRS by 2011, 1446)
NRS 143.615 Payment of taxes, assessments and expenses. The personal representative who has limited
authority or full authority has the power to pay all the following:
1. Taxes and assessments.
2. Expenses incurred in the collection,
care and administration of the estate.
(Added to NRS by 2011, 1446)
NRS 143.620 Purchase of annuity under certain circumstances. The personal representative who has limited
authority or full authority has the power to purchase an annuity from an
insurer admitted to do business in this State to satisfy a devise of an annuity
or other direction in the will for periodic payments to a devisee.
(Added to NRS by 2011, 1446)
NRS 143.625 Exercise of option. The
personal representative who has limited authority or full authority has the
power to exercise an option right that is property of the estate.
(Added to NRS by 2011, 1446)
NRS 143.630 Purchase of securities or commodities to perform incomplete
contract of sale. The personal
representative who has limited authority or full authority has the power to
purchase securities or commodities required to perform an incomplete contract
of sale where the decedent died having sold but not delivered securities or
commodities not owned by the decedent.
(Added to NRS by 2011, 1446)
NRS 143.635 Holding securities in name of nominee or in any other form for
certain purposes. The personal
representative who has limited authority or full authority has the power to
hold a security in the name of a nominee or in any other form without
disclosure of the estate, so that title to the security may pass by delivery.
(Added to NRS by 2011, 1446)
NRS 143.640 Exercise of security subscription or conversion rights. The personal representative who has limited
authority or full authority has the power to exercise security subscription or
conversion rights.
(Added to NRS by 2011, 1446)
NRS 143.645 Repairs and improvements to property of estate. The personal representative who has limited
authority or full authority has the power to make repairs and improvements to
real and personal property of the estate.
(Added to NRS by 2011, 1446)
NRS 143.650 Acceptance of deed or deed of trust in lieu of foreclosure or
trustee’s sale. The personal
representative who has limited authority or full authority has the power to
accept a deed to property which is subject to a mortgage or deed of trust in
lieu of foreclosure of the mortgage or sale under the deed of trust.
(Added to NRS by 2011, 1447)
NRS 143.655 Partial satisfaction of mortgage or partial reconveyance under
deed of trust. The personal
representative who has limited authority or full authority has the power to
give a partial satisfaction of a mortgage or to cause a partial reconveyance to
be executed by a trustee under a deed of trust held by the estate.
(Added to NRS by 2011, 1447)
Procedures Relating to Notice of Proposed Action
NRS 143.700 Circumstances pursuant to which notice of proposed action is
required or authorized.
1. A personal representative who has been
granted authority to administer the estate pursuant to NRS
143.300 to 143.815, inclusive, shall give
notice of a proposed action as provided in NRS 143.700
to 143.760, inclusive, before taking the proposed
action without court supervision if the provisions of NRS
143.365 to 143.655, inclusive, giving the
personal representative the power to take the action so require. Nothing in
this subsection authorizes a personal representative to take an action pursuant
to NRS 143.300 to 143.815,
inclusive, if the personal representative does not have the power to take the
action pursuant to those provisions.
2. A personal representative who has been
granted authority to administer the estate pursuant to NRS
143.300 to 143.815, inclusive, may give notice
of a proposed action as provided in NRS 143.700 to 143.760, inclusive, even if the provisions of NRS 143.365 to 143.655,
inclusive, giving the personal representative the power to take the action authorize
the personal representative to take the action without giving notice of the
proposed action. Nothing in this subsection requires the personal
representative to give notice of a proposed action where not required under
subsection 1 or authorizes a personal representative to take any action that
the personal representative is not otherwise authorized to take.
(Added to NRS by 2011, 1447)
NRS 143.705 Persons to whom notice of proposed action is required to be
given. Except as otherwise
provided in NRS 143.710 and 143.715,
notice of a proposed action must be given to all the following:
1. Each known devisee whose interest in
the estate would be affected by the proposed action.
2. Each known heir whose interest in the
estate would be affected by the proposed action.
3. Each person who has filed a request for
special notice pursuant to NRS 155.030.
4. The Attorney General, at the Office of
the Attorney General in Carson City, if any portion of the estate is to escheat
to the State and its interest in the estate would be affected by the proposed
action.
(Added to NRS by 2011, 1447)
NRS 143.710 Consent to proposed action. Notice
of a proposed action need not be given to any person who consents in writing to
the proposed action. The consent may be executed at any time before or after
the proposed action is taken.
(Added to NRS by 2011, 1447)
NRS 143.715 Waiver of notice for particular proposed action; general waiver
of notice of proposed action.
1. Notice of a proposed action need not be
given to any person who, in writing, waives the right to notice of a proposed
action with respect to the particular proposed action. The waiver may be
executed at any time before or after the proposed action is taken. The waiver
must describe the particular proposed action and may waive particular aspects
of the notice, such as the delivery, mailing or time requirements of NRS 143.730 or the giving of the notice in its
entirety for the particular proposed action.
2. Notice of a proposed action need not be
given to any person who has made either of the following:
(a) A general waiver of the right to notice of a
proposed action.
(b) A waiver of the right to notice of a proposed
action for all transactions of a type which includes the particular proposed
action.
(Added to NRS by 2011, 1447)
NRS 143.720 Revocation of consent to proposed action or waiver of notice of
proposed action.
1. A waiver or consent pursuant to NRS 143.710 or 143.715 may
be revoked only in writing and is effective only when the writing is received
by the personal representative.
2. A copy of the revocation may be filed with
the court, but the effectiveness of the revocation is not dependent upon a copy
being filed with the court.
(Added to NRS by 2011, 1448)
NRS 143.725 Contents of notice of proposed action.
1. The notice of proposed action must
state all the following:
(a) The name and mailing address of the personal
representative.
(b) The person and telephone number to call to get
additional information.
(c) The action proposed to be taken, with a
reasonably specific description of the action. If the proposed action involves
the sale or exchange of real property or the granting of an option to purchase
real property, the notice of proposed action must state the material terms of
the transaction, including, if applicable, the sale price and the amount of, or
method of calculating, any commission or compensation paid or to be paid to an
agent or broker in connection with the transaction.
(d) The date on or after which the proposed
action is to be taken.
2. The notice of proposed action must
include a form for objecting to the proposed action.
(Added to NRS by 2011, 1448)
NRS 143.730 Requirements for delivery of notice of proposed action. The notice of proposed action must be mailed
or personally delivered to each person required to be given notice of the
proposed action not less than 15 days before the date specified in the notice
of proposed action on or after which the proposed action is to be taken. If
mailed, the notice of proposed action must be addressed to the person at the
person’s last known address. The notice of proposed action must be mailed or
delivered in the manner provided in NRS
155.010.
(Added to NRS by 2011, 1448)
NRS 143.735 Objection to proposed action; requirements for delivery; form;
notice of objection to personal representative.
1. Any person entitled to notice of a
proposed action under NRS 143.705 may object to the
proposed action as provided in this section.
2. The objection to the proposed action
must be made by delivering or mailing a written objection to the proposed
action to the personal representative at the address stated in the notice of
proposed action. The person objecting to the proposed action may use the form
provided in NRS 143.810 or may make the objection
in any other writing that identifies the proposed action with reasonable
certainty and indicates that the person objects to the taking of the proposed
action.
3. The personal representative is deemed
to have notice of the objection to the proposed action if the notice is
delivered or received at the address stated in the notice of proposed action
before:
(a) The date specified in the notice of proposed
action on or after which the proposed action is to be taken; or
(b) The date on which the proposed action is
actually taken,
Ê whichever
occurs later.
(Added to NRS by 2011, 1448)
NRS 143.740 Restraining order prohibiting proposed action without court
supervision; notice of restraining order to personal representative.
1. Any person who is entitled to notice of
a proposed action for a proposed action described in subsection 1 of NRS 143.700, or any person who is given notice of a
proposed action described in subsection 2 of NRS
143.700, may apply to the court having jurisdiction over the proceeding for
an order restraining the personal representative from taking the proposed
action without court supervision. The court shall grant the requested order
without requiring notice to the personal representative and without cause being
shown for the order.
2. The personal representative is deemed
to have notice of the restraining order if the notice is given and served upon
the personal representative in the manner provided in NRS 155.040 and 155.050, or in the manner authorized by
the court, before:
(a) The date specified in the notice of proposed
action on or after which the proposed action is to be taken; or
(b) The date on which the proposed action is
actually taken,
Ê whichever
occurs later.
(Added to NRS by 2011, 1449)
NRS 143.745 Court authorization or confirmation required if personal
representative receives notice of objection or of restraining order.
1. If the
proposed action is one that would require court supervision if the personal
representative had not been granted authority to administer the estate pursuant
to NRS 143.300 to 143.815,
inclusive, and the personal representative has notice of a written objection
made pursuant to NRS 143.735 or a restraining order
issued pursuant to NRS 143.740, the personal
representative shall, if the personal representative desires to take the
proposed action, petition the court to obtain approval from the court.
2. If the proposed action is one that
would not require court supervision even if the personal representative had not
been granted authority to administer the estate pursuant to NRS 143.300 to 143.815,
inclusive, but the personal representative has given notice of the proposed
action and has notice of a written objection made pursuant to NRS 143.735 or a restraining order issued pursuant to NRS 143.740, the personal representative shall, if he
or she desires to take the proposed action, request instructions from the court
concerning the proposed action. The personal representative may take the
proposed action only under such order as may be entered by the court.
3. A person who objects to a proposed
action as provided in NRS 143.735 or serves a
restraining order issued pursuant to NRS 143.740 in
the manner provided in that section must be given notice of any hearing on a
petition for court authorization or confirmation of the proposed action.
(Added to NRS by 2011, 1449)
NRS 143.750 Effect of failure to object to proposed action; court review of
action by personal representative under certain circumstances.
1. Except as otherwise provided in
subsection 3, only a person described in NRS 143.705
has a right to have the court review the proposed action after it has been
taken or otherwise to object to the proposed action after it has been taken.
Except as otherwise provided in subsections 2 and 3, a person described in NRS 143.705 waives the right to have the court review
the proposed action after it has been taken, or otherwise to object to the
proposed action after it has been taken, if:
(a) The person has been given notice of the
proposed action, as provided in NRS 143.700 to 143.730, inclusive, and fails to object as provided in
subsection 4; or
(b) The person has waived notice of or consented
to the proposed action as provided in NRS 143.710
and 143.715.
2. Unless the person has waived notice of
or consented to the proposed action as provided in NRS
143.710 and 143.715, the court may review the
action taken upon a petition filed by a person described in NRS 143.705 who establishes that he or she did not
actually receive the notice of proposed action before the time to object
pursuant to subsection 4 expired.
3. The court may review the action of the
personal representative upon a petition filed by an heir or devisee who
establishes all the following:
(a) At the time notice of the proposed action was
given, the heir or devisee lacked capacity to object to the proposed action or
was a minor;
(b) No notice of proposed action was actually
received by the guardian, conservator or other legal representative of the heir
or devisee;
(c) The guardian, conservator or other legal
representative did not waive notice of the proposed action; and
(d) The guardian, conservator or other legal
representative did not consent to the proposed action.
4. For the purposes of this section, an
objection to a proposed action is made only by one or both of the following
methods:
(a) Delivering or mailing a written objection as
provided in NRS 143.735 within the time specified
in subsection 3 of that section; or
(b) Serving a restraining order obtained pursuant
to NRS 143.740 in the manner prescribed and within
the time specified in subsection 2 of that section.
(Added to NRS by 2011, 1449)
NRS 143.755 Failure of personal representative to comply with certain
requirements; validity of actions taken without such compliance.
1. The failure of the personal
representative who has limited authority or full authority to comply with
subsection 1 of NRS 143.700 and with NRS 143.705, 143.725, 143.730 and 143.745, and
the taking of the action by the personal representative without such
compliance, does not affect the validity of the action so taken or the title to
any property conveyed or transferred to bona fide purchasers or the rights of
third persons who, dealing in good faith with the personal representative,
changed their position in reliance upon the action, conveyance or transfer
without actual notice of the failure of the personal representative to comply
with those provisions.
2. A person dealing with the personal
representative does not have any duty to inquire or investigate whether the
personal representative has complied with the provisions listed in subsection
1.
(Added to NRS by 2011, 1450)
NRS 143.760 Court authorized to remove personal representative from office
under certain circumstances.
1. In a case where notice of a proposed
action is required by NRS 143.700 to 143.760, inclusive, the court, in its discretion, may
remove the personal representative from office unless the personal
representative:
(a) Gives notice of the proposed action as provided
in NRS 143.700 to 143.760,
inclusive;
(b) Obtains a waiver of notice of the proposed
action as provided in NRS 143.700 to 143.760, inclusive; or
(c) Obtains a consent to the proposed action as
provided in NRS 143.700 to 143.760,
inclusive.
2. The court, in its discretion, may
remove the personal representative from office if the personal representative
takes a proposed action in violation of NRS 143.745.
(Added to NRS by 2011, 1450)
Forms
NRS 143.800 Letters testamentary or letters of administration. Letters testamentary or letters of
administration pursuant to the Independent Administration of Estates Act as set
forth in NRS 143.300 to 143.815,
inclusive, may be in the following form:
LETTERS
TESTAMENTARY / ADMINISTRATION
On
.............................., 20......., the court entered an order admitting
the decedent’s will to probate and appointing
[........................................] as personal representative of the
decedent’s estate. The order includes:
[ ] full
authority for the personal representative to administer the estate pursuant to
the Independent Administration of Estates Act.
[ ] limited
authority to administer the estate pursuant to the Independent Administration
of Estates Act. (There is no authority, without court supervision, to: (1) sell
or exchange real property; (2) grant an option to purchase real property; or
(3) borrow money with the loan secured by an encumbrance upon real property.)
[ ] a directive
for the establishment of a blocked account for sums in excess of
$....................;
[ ] a directive
for the posting of a bond in the sum of $....................; or
[ ] a directive
for both the establishment of a blocked account for sums in excess of
$.................... and the posting of a bond in the sum of
$.....................
The personal representative,
after being duly qualified, may act and has the authority and duties of a
personal representative.
In testimony of which, I have
this date signed these letters and affixed the seal of the court.
CLERK OF THE COURT
By:
Deputy Clerk
Date:
OATH
I,
[..............................], whose mailing address is
......................................, solemnly affirm that I will faithfully
perform according to law the duties of personal representative, and that all
matters stated in any petition or paper filed with the court by me are true of
my own knowledge or, if any matters are stated on information and belief, I
believe them to be true.
[ ],
Personal Representative
SUBSCRIBED AND AFFIRMED
before me this ........ (day) of
............, 20......
By:..................................................................
NOTARY PUBLIC
County of .................., State
of Nevada
(Added to NRS by 2011, 1450)
NRS 143.805 Notice of proposed action. A
notice of proposed action pursuant to the Independent Administration of Estates
Act as set forth in NRS 143.300 to 143.815, inclusive, may be in the following form:
NOTICE
OF PROPOSED ACTION
Independent
Administration of Estates Act
1. The personal
representative of the estate of the deceased is ...............................
2. The personal
representative has authority to administer the estate without court supervision
pursuant to the Independent Administration of Estates Act:
[ ] with full
authority pursuant to the Independent Administration of Estates Act; or
[ ] with limited
authority pursuant to the Independent Administration of Estates Act. (There is
no authority, without court supervision, to: (1) sell or exchange real
property; (2) grant an option to purchase real property; or (3) borrow money
with the loan secured by an encumbrance upon real property.)
3. On or after
.................................. (date), the personal representative will
take the following action without court supervision:
Describe in specific terms the
proposed action.
If the action involves the sale or
exchange of or a grant of an option to purchase real property, provide the sale
price, the amount of or method of calculating any commission or compensation of
the real estate broker and the value of the property in the probate inventory.
NOTICE: A sale of real
property without court supervision means that the sale will NOT be presented to
the court for confirmation at a hearing at which higher bids for the property
may be presented and the property sold to the highest bidder.
4. If you OBJECT
to the proposed action:
(a) Sign the objection
form provided with this Notice of Proposed Action and deliver or mail it to the
personal representative at the following address ..................................
(specify name and address);
(b) Send your own
written objection to the address set forth in paragraph (a), identifying the
proposed action and state that you object to it; or
(c) Apply to the court
for an order preventing the personal representative from taking the proposed
action without court supervision.
NOTE: Your written
objection or the court order must be received by the personal representative
before the date indicated in item 3 or before the proposed action is taken, whichever
is later. If you object, the personal representative may take the proposed
action only under court supervision.
5. If you
approve of the proposed action, you may sign the consent form provided with
this Notice of Proposed Action and return it to the address set forth in
paragraph (a) of item 4. If you do not object in writing or obtain a court
order, you will be treated as if you consented to the proposed action.
6. If you need
more INFORMATION, call: ................................. (name) ................................
(telephone).
Date: ...............................................
Personal Representative
(Added to NRS by 2011, 1452)
NRS 143.810 Objection to proposed action. An
objection to a proposed action pursuant to the Independent Administration of
Estates Act as set forth in NRS 143.300 to 143.815, inclusive, may be in the following form:
OBJECTION
TO PROPOSED ACTION
I OBJECT to the action proposed in
item 3 of the Notice of Proposed Action.
NOTICE: Sign and return
this form – all pages – to the address set forth in paragraph (a) of item 4 of
the Notice of Proposed Action. This form must be received before the date set
forth in item 3 of the Notice of Proposed Action, or before the proposed action
is taken, whichever is later. (You may want to use certified mail, with return
receipt requested. Make a copy of this form for your records.)
Date: .......................................................
............................................................
Type or print name Signature
of Objector
(Added to NRS by 2011, 1453)
NRS 143.815 Consent to proposed action. Consent
to a proposed action pursuant to the Independent Administration of Estates Act
as set forth in NRS 143.300 to 143.815, inclusive, may be in the following form:
CONSENT
TO PROPOSED ACTION
I CONSENT to the action proposed in
item 3 of the Notice of Proposed Action.
NOTICE: You may
indicate your consent by signing and returning this form – all pages – to the
address set forth in paragraph (a) of item 4 of the Notice of Proposed Action.
If you do not object in writing or obtain a court order, you will be treated as
if you consent to the proposed action.
Date: .......................................................
............................................................
Type or print name Signature
of Objector
(Added to NRS by 2011, 1453)
