Nevada Statutes

§ 100.135 — Appraisal of vehicle when lease terminates or expires

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 100 Special· Commercial Vehicle Leases

If the commercial vehicle lease provides that the lessee is liable for an amount based on the residual value of the vehicle at the termination or expiration of the lease, the lessee may obtain, at his or her expense, a professional appraisal of the vehicle by an independent third party agreed to by both parties. An appraisal obtained pursuant to this section is final and binding on the parties.

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Legislative History

(Added to NRS by 1979, 1262 )

Nearby Sections

15

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Assignment for creditors

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Levy of attachment or execution: Written notice; service; payment of claim; disputed claims; hearing; costs and pro rata payments

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Deposits in names of two or more persons; fact that account held in joint tenancy does not preclude person named on account from committing or being prosecuted for exploitation

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§ 100.095

§ 100.105

Disclosures required before lease consummated

§ 100.115

Liability of lessor for failure to disclose

§ 100.125

Reasonableness of estimated residual value of vehicle

§ 100.135

Appraisal of vehicle when lease terminates or expires

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