159.142 - Sale of interest of ward in real property owned jointly with one or more persons. - Nevada Statutes

159.142  Sale of interest of ward in real property owned jointly with one or more persons.

      1.  If a ward owns real property jointly with one or more other persons, the interest owned by the ward may be sold to one or more joint owners of the property only if:

      (a) The guardian files a petition with the court to confirm the sale pursuant to NRS 159.134; and

      (b) The court confirms the sale.

      2.  The court shall confirm the sale only if:

      (a) The net amount of the proceeds from the sale to the estate of the ward is not less than 90 percent of the fair market value of the portion of the property to be sold; and

      (b) Upon confirmation, the estate of the ward will be released from all liability for any mortgage or lien on the property.

      (Added to NRS by 2003, 1761)