148.390 - Failure to comply with agreement or option. - Nevada Statutes

148.390  Failure to comply with agreement or option.  If the purchaser or option holder neglects or refuses to comply with the terms of the agreement or option, the court, on petition of the personal representative, and after notice to the purchaser or option holder, shall enter an order cancelling the agreement or option, but the cancellation does not affect any liability previously created.

      [173:107:1941; 1931 NCL § 9882.173]—(NRS A 1999, 2323)

      NRS 148.400  Procedure after compliance with agreement or option to purchase.  If the terms of an agreement to sell or option to purchase have been complied with by the purchaser or option holder, and all payments have been made according to the terms thereof, the personal representative shall make a return to the court and petition for confirmation. Notice must be given, a hearing had, an order made by the court confirming or refusing to confirm the proceedings and conveyances executed, in the same manner and with like effect as in the case of the sale of real property.

      [174:107:1941; 1931 NCL § 9882.174]—(NRS A 1999, 2323)