Nevada Revised Statutes 159.148 – Neglect or refusal of purchaser of real property to comply with terms of sale
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1. After confirmation of the sale of real property, if the purchaser neglects or refuses to comply with the terms of the sale, the court may set aside the order of confirmation and order the property to be resold:
Terms Used In Nevada Revised Statutes 159.148
- 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.
- 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) On motion of the guardian; and
(b) After notice is given to the purchaser.
2. If the amount realized on the resale of the property is insufficient to cover the bid and the expenses of the previous sale, the original purchaser is liable to the estate of the protected person for the deficiency.