This text of Nevada § 207.500 (Use, sale and other disposal of forfeited property by State, county or city; payment of certain encumbrances) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. The State, county or city may sell or retain for its official use the property or interests so forfeited. If the forfeited property or interest is to be sold or otherwise disposed of, the State, county or city shall do so as soon as commercially feasible. Except as otherwise provided in subsection 2, the proceeds from such a sale must be used:
(a)First to satisfy a claim of an injured person as provided in NRS 207.470 ; (b)Then for payment of all proper expenses of any proceedings for the forfeiture and sale, including any expenses for the seizure and maintenance of the property, advertising and court costs; and
(c)Then to repay any money received pursuant to NRS 207.415 and to pay the amount required to be paid by that section.
Ê The balance of the proceeds, if any, must be deposite Free access — add to your briefcase to read the full text and ask questions with AI
1. The State, county or city may sell or retain for its official use the property or interests so forfeited. If the forfeited property or interest is to be sold or otherwise disposed of, the State, county or city shall do so as soon as commercially feasible. Except as otherwise provided in subsection 2, the proceeds from such a sale must be used:
(a) First to satisfy a claim of an injured person as provided in NRS 207.470 ;
(b) Then for payment of all proper expenses of any proceedings for the forfeiture and sale, including any expenses for the seizure and maintenance of the property, advertising and court costs; and
(c) Then to repay any money received pursuant to NRS 207.415 and to pay the amount required to be paid by that section.
Ê The balance of the proceeds, if any, must be deposited in the General Fund of the State or a county or city as the court provides in the order of forfeiture.
2. If the property forfeited is encumbered by a bona fide security interest and the secured party shows that the secured party did not consent or have knowledge of the violation causing the forfeiture, the State shall pay the existing balance or return the property to the secured party.