§ 39.695 — Report of open-market sale

1. Unless required to do so within a shorter time by NRS 39.010 to 39.490 , inclusive, a broker appointed under subsection 2 of NRS 39.690 to offer heirs property for open-market sale shall file a report not later than 7 days after receiving an offer to purchase the property for at least the value determined under NRS 39.670 or 39.690 .
2. The report required by subsection 1 must contain the following information:
(a) A description of the property to be sold to each buyer;
(b) The name of each buyer;
(c) The proposed purchase price;
(d) The terms and conditions of the proposed sale, including, without limitation, the terms of any owner financing;
(e) The amounts to be paid to lienholders;
(f) A statement of contractual or other arrangements or conditions of the broker’s commission; and
(g) Other material facts relevant to the sale.

Legislative History

(Added to NRS by 2011, 315 )