143.160 - Costs; disposal of property recovered; proceeds. - Nevada Statutes

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)