159.1365 - Application of money from sale of real property of ward that is subject to mortgage or other lien. - Nevada Statutes

159.1365  Application of money from sale of real property of ward that is subject to mortgage or other lien.  If real property of the estate of a ward is sold that is subject to a mortgage or other lien which is a valid claim against the estate, the money from the sale must be applied in the following order:

      1.  To pay the necessary expenses of the sale.

      2.  To satisfy the mortgage or other lien, including, without limitation, payment of interest and any other lawful costs and charges. If the mortgagee or other lienholder cannot be found, the money from the sale may be paid as ordered by the court and the mortgage or other lien shall be deemed to be satisfied.

      3.  To the estate of the ward, unless the court orders otherwise.

      (Added to NRS by 2003, 1760)