Nevada Revised Statutes 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.
Terms Used In Nevada Revised Statutes 143.030
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
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 or 159A of NRS until the guardianship is terminated according to the provisions of NRS 159.1905, 159.191, 159A.1905 or 159A.191 and the guardian is ordered to distribute the assets to the personal representative.