Nevada Revised Statutes 159.1455 – Confirmation by court of sale of real property of guardianship estate
1. Except as otherwise provided in subsection 2, the court shall not confirm a sale of real property of a guardianship estate unless:
Terms Used In Nevada Revised Statutes 159.1455
- Appraisal: A determination of property value.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) The court is satisfied that the amount offered represents the fair market value of the property to be sold; and
(b) Except for a sale of real property pursuant to NRS 159.123, the real property has been appraised within 1 year before the date of the sale. If the real property has not been appraised within this period, a new appraisal must be conducted pursuant to NRS 159.086 and 159.0865 at any time before the sale or confirmation by the court of the sale.
2. The court may waive the requirement of an appraisal upon a showing to and specific findings by the court on the record that:
(a) An additional appraisal will unduly delay the sale; and
(b) The delay will impair the estate of the protected person.