2005 Nevada Revised Statutes - Chapter 151 — Adjustments; Distribution and Discharge

CHAPTER 151 - ADJUSTMENTS; DISTRIBUTION ANDDISCHARGE

GENERAL PROVISIONS

NRS 151.003 Orderof priority for payment of devises.

AGREEMENTS

NRS 151.005 Agreementby distributees to alter interests, shares or amounts to which they areotherwise entitled under terms of will: Requirements; exceptions; personalrepresentative to abide by terms.

PARTIAL DISTRIBUTION

NRS 151.010 Petitionfor partial distribution; bond.

NRS 151.020 Petitionfor hearing and notice of hearing.

NRS 151.030 Contestof petition.

NRS 151.040 Orderfor distribution: Prerequisites to order; bond; assumption of personalliability by heir or devisee.

NRS 151.050 Orderof repayment: Action on bond or other security; action against distributee ifno bond or other security given.

NRS 151.060 Partitionwhen partial distribution ordered.

NRS 151.070 Costs.

FINAL DISTRIBUTION

NRS 151.080 Petitionfor final distribution.

NRS 151.090 Noticeof hearing of petition.

NRS 151.095 Mannerof distribution; distribution without proration.

NRS 151.110 Orderand distribution; recording of copy of order conveying real property.

ADVANCEMENTS, SATISFACTION OF TESTAMENTARY GIFTS, ADEMPTIONSAND ABATEMENT

NRS 151.120 Whengift before death not deemed advancement.

NRS 151.130 Computationof share of estate if heir or devisee received advancement.

NRS 151.140 Valueof property advanced.

NRS 151.150 Predeceasedheir or devisee.

NRS 151.160 Determinationof questions as to advancements.

NRS 151.161 Whengift before death not deemed satisfaction of testamentary gift.

NRS 151.162 Valueof gift in satisfaction of testamentary gift.

NRS 151.163 Effectof abatement.

NRS 151.167 Propertysold to pay debts, expenses or family allowances: Contribution betweendevisees.

DISCHARGE

NRS 151.170 Paymentsto county treasurer for person who cannot be found, minor or incapacitatedperson without guardian, and others.

NRS 151.180 Distribution toguardians of nonresident minors and incapacitated persons.

NRS 151.190 Saleof unclaimed personal property; disposition of proceeds.

NRS 151.210 Claimof money paid into State Treasury; order of court.

NRS 151.220 Specific devise ofpersonal property for life only.

NRS 151.230 Orderof discharge; court may excuse filing of receipt; order for distribution ofestate from recovery of distributed property.

REOPENING

NRS 151.240 Subsequentadministration; limitation on reopening estate.

NRS 151.250 Petition;hearing and notice.

NRS 151.260 Supplementalorders.

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GENERAL PROVISIONS

NRS 151.003 Orderof priority for payment of devises. Theproperty of a testator, except as otherwise provided in this title, must beresorted to for the payment of devises in the following order:

1. The property which is expressly appropriated by thewill for the specific devise.

2. Property not disposed of by the will.

3. Property which is devised to a residuary devisee.

(Added to NRS by 1999, 2340)

AGREEMENTS

NRS 151.005 Agreementby distributees to alter interests, shares or amounts to which they areotherwise entitled under terms of will: Requirements; exceptions; personalrepresentative to abide by terms. Subject tothe rights of creditors and taxing authorities, distributees may agree amongthemselves to alter the interests, shares or amounts to which they are entitledunder the terms of the will of the decedent, or under the laws of intestacy, inany way that they provide in a written agreement executed by all who areaffected by its provisions. The personal representative shall abide by theterms of the agreement subject to his obligation to administer the estate forthe benefit of creditors, to pay all taxes and costs of administration, and tocarry out the responsibilities of the office for the benefit of anydistributees of the decedent who are not parties. Personal representatives ofthe estate of decedents are not required to oversee the performance of trustsif the trustee thereof is another person who is willing to accept the trust.Accordingly, trustees of a testamentary trust are distributees for the purposesof this section. This section does not relieve trustees of any duties owed tobeneficiaries of trusts.

(Added to NRS by 1997, 1491; A 1999, 2341)

PARTIAL DISTRIBUTION

NRS 151.010 Petitionfor partial distribution; bond.

1. At any time after the lapse of 3 months from theissuing of letters, the personal representative or any heir or devisee, or theassignee, grantee or successor in interest of any heir or devisee, may petitionthe court to distribute a share of the estate, or any portion thereof, to anyperson entitled thereto, upon the person giving a bond, with approved security,for the payment of the persons proportion of the debts of the estate.

2. The court may dispense with a bond if it is made toappear that the bond is unnecessary.

[235:107:1941; A 1955, 161](NRS A 1999, 2341)

NRS 151.020 Petitionfor hearing and notice of hearing. The clerkshall set the petition for hearing and the petitioner shall give notice for theperiod and in the manner provided in NRS155.010.

[236:107:1941; A 1955, 161](NRS A 1999, 2342)

NRS 151.030 Contestof petition. The personal representative, ifnot the petitioner, or an interested person, may object to the petition, or anheir or devisee may submit a similar petition.

[237:107:1941; A 1955, 161](NRS A 1999, 2342)

NRS 151.040 Orderfor distribution: Prerequisites to order; bond; assumption of personalliability by heir or devisee.

1. Subject to the provisions of subsection 3, if itappears at the hearing that the estate has little debt and that the share orshares of the party or parties petitioning may be allowed without injury to thecreditors of the estate, the court shall enter an order in conformity with therequest of the petitioner or petitioners.

2. The order may direct the personal representative todeliver to the petitioner or petitioners the whole portion of the estate towhich each is entitled, or a part of the portion, if there is sufficientproperty remaining in the estate to satisfy the debts or if there is filed withthe court an assumption of liability for a contingent or disputed debt asprovided in subsection 3. The court may impose any other conditions it determinesare just, including a requirement that a distributee give a security interestin all or part of the property distributed or give bond in an amount determinedby the court. The bond must be payable to the personal representative andconditioned for the payment by the distributee, whenever required, of hisproportion of the debts of the estate.

3. As a condition of an order under subsection 2, ifdirected by the court, each heir or devisee shall file with the court a signedand acknowledged agreement assuming personal liability for the contingent ordisputed debt and consenting to jurisdiction in this State for the enforcementof the debt if it becomes absolute or established. The personal liability ofeach heir or devisee does not exceed the fair market value on the date ofdistribution of the property distributed less the amount of any liens orencumbrances. If there is more than one heir or devisee, their personalliability is joint and several.

[238:107:1941; 1931 NCL 9882.238] + [239:107:1941;1931 NCL 9882.239](NRS A 1999, 2342)

NRS 151.050 Orderof repayment: Action on bond or other security; action against distributee if nobond or other security given.

1. If a bond or other security has been executed anddelivered as prescribed in NRS 151.040,and the personal representative ascertains that it is necessary for thesettlement of the estate to require the payment of any part of the moneythereby secured, he shall petition the court for an order requiring the paymentand cause a citation to be issued and served upon the parties bound, requiringthem, at a time and place, not more than 10 days after the date of thecitation, to be stated therein, to appear and show cause why the order shouldnot be made.

2. The court, if satisfied of the necessity for thepayment to be made, shall enter an order designating the amount and giving atime in which it shall be paid.

3. If the money is not paid within the time allowed,an action may be maintained by the personal representative on the bond or othersecurity.

4. Similar proceedings may be initiated against anheir or devisee if no bond or other security is given.

[242:107:1941; 1931 NCL 9882.242](NRS A 1999, 2343)

NRS 151.060 Partitionwhen partial distribution ordered. If, in theexecution of the order, partition is necessary between two or more of theparties, it must be made in the manner prescribed in chapter 152 of NRS.

[240:107:1941; 1931 NCL 9882.240](NRS A 1999, 2343)

NRS 151.070 Costs. The costs of proceedings for a partial distribution mustbe paid by the heir or devisee or, if there are more than one, must be proratedamong them.

[241:107:1941; 1931 NCL 9882.241](NRS A 1999, 2343)

FINAL DISTRIBUTION

NRS 151.080 Petitionfor final distribution.

1. If a personal representative files his finalaccount with a petition requesting the allowance and confirmation thereof, hemay also include in the petition a request for the distribution of the estate.Upon the settlement and allowance of the final account, the court may alsoorder a distribution of the residue of the estate, if any, among the personswho are by law entitled thereto.

2. If a final account is settled and allowed withoutan order of distribution, the personal representative, or an heir or devisee,or an assignee or grantee of an heir or devisee, at any time thereafter, maypetition the court for an order distributing the estate.

[Part 243:107:1941; 1931 NCL 9882.243](NRS A 1999, 2343)

NRS 151.090 Noticeof hearing of petition.

1. When a petition for final distribution is filed,the clerk shall set the petition for hearing and the petitioner shall givenotice for the period and in the manner provided in NRS 155.010.

2. The court may order such further notice as it deemsproper.

[Part 243:107:1941; 1931 NCL 9882.243](NRS A 1975,1778; 1985, 2037; 1997, 1492; 1999, 2343)

NRS 151.095 Mannerof distribution; distribution without proration.

1. Except as otherwise provided in subsection 2 or inthe will, a personal representative may distribute property and money:

(a) In divided or undivided interests; and

(b) With or without proration.

2. Each affected beneficiary must agree before anyproperty or money is distributed without proration, unless the will authorizesa personal representative to distribute property and money without proration.

(Added to NRS by 1999, 2340)

NRS 151.110 Orderand distribution; recording of copy of order conveying real property.

1. After the accounts of a personal representativehave been settled and an order for the distribution of the estate entered bythe court, the personal representative shall, without any unnecessary delay,distribute the estate remaining undistributed as directed by the order.

2. In the order, the court shall name the persons andthe proportion or parts to which each is entitled, and that person has theright to demand and recover a respective share from the personal representativeor any other person having possession of it.

3. The personal representative shall, within 10 daysafter the entry of an order of distribution conveying any real property, recorda certified copy of the order with the county recorder of the county in whichthe order was entered and of any other county in which the real property, orany portion of it, is located.

[233:107:1941; 1931 NCL 9882.233] + [Part244:107:1941; A 1947, 38; 1943 NCL 9882.244](NRS A 1963, 17; 1999, 2344)

ADVANCEMENTS, SATISFACTION OF TESTAMENTARY GIFTS,ADEMPTIONS AND ABATEMENT

NRS 151.120 Whengift before death not deemed advancement. Nogift or grant shall be deemed to have been made as an advancement unless:

1. So expressed in the gift or grant;

2. Charged in writing by the decedent as anadvancement; or

3. Acknowledged in writing by the donee to be such.

[303:107:1941; 1931 NCL 9882.303](NRS A 1999, 2344)

NRS 151.130 Computationof share of estate if heir or devisee received advancement.

1. Any property given by a decedent during thelifetime of the decedent as an advancement to a donee must be considered aspart of the estate for the sole purpose of computing the respective shares ofthe distributees and must be taken by the donee toward his share of the estateof the decedent.

2. If the amount of the advancement exceeds the shareof the heir or devisee so advanced, the heir or devisee is excluded from anyfurther portion in the distribution and division of the estate, but he is notrequired to refund any part of the advancement. If the amount so received isless than his share, he is entitled to as much more as will give him his fullshare of the estate of the decedent.

[301:107:1941; 1931 NCL 9882.301] + [302:107:1941;1931 NCL 9882.302](NRS A 1999, 2344)

NRS 151.140 Valueof property advanced. If the value of theadvancement is expressed in the conveyance, or in the charge thereof made bythe decedent, or in the acknowledgment of the person receiving it, that valuemust be used in the distribution and division of the estate. Otherwise, thevalue must be estimated according to its value when given, as nearly as can beascertained.

[304:107:1941; 1931 NCL 9882.304](NRS A 1999, 2344)

NRS 151.150 Predeceasedheir or devisee. If a child or other linealdescendant so advanced dies before the person making the advancement, leavingissue, the advancement must be taken into consideration in the distribution anddivision of the estate as if the advancement had been made directly to theissue.

[305:107:1941; 1931 NCL 9882.305](NRS A 1999, 2345)

NRS 151.160 Determinationof questions as to advancements. All questionsas to advancements made, or alleged to have been made, by a decedent to heirsor devisees may be heard and determined by the court, and must be specified inthe order distributing the estate, and in the warrant to the commissionersprovided for in NRS 152.050, and thefinal order of the court is binding on all interested persons, subject to theright of any party to appeal from a final order.

[267:107:1941; 1931 NCL 9882.267](NRS A 1999, 2345)

NRS 151.161 Whengift before death not deemed satisfaction of testamentary gift. No gift or grant by the decedent shall be deemed to havebeen made as satisfaction of a testamentary gift unless:

1. So expressed in the instrument providing for thegift or grant;

2. Charged in a writing by the decedent as partial orcomplete satisfaction of a testamentary gift; or

3. Acknowledged in writing by the donee to be such.

(Added to NRS by 2003, 2514)

NRS 151.162 Valueof gift in satisfaction of testamentary gift. Ifthe value of the gift is expressed in the instrument providing for the gift orgrant, or in a writing of the decedent, or in an acknowledgment of the donee,that value must be used in the distribution and division of the estate.Otherwise, the gift or grant must be valued as of the time the donee came intopossession or enjoyment of the property or as of the time of death of thedecedent, whichever occurs first.

(Added to NRS by 2003, 2514)

NRS 151.163 Effectof abatement. Unless a different intention isexpressed in the will, abatement takes place in any class only as betweendevises of that class, and devises to a spouse or to kindred are chargeableonly after devises to persons not related to the testator.

(Added to NRS by 1999, 2341)

NRS 151.167 Propertysold to pay debts, expenses or family allowances: Contribution betweendevisees. If property given by will to personsother than the residuary devisees is sold for the payment of debts or expensesor family allowances, all the devisees shall contribute in proportion to theirrespective interests to the devisee whose devise has been sold, and the court,when distribution is made, shall settle the amount of the several liabilitiesand order the amount each person is liable to contribute to be withheld fromthat persons distributive share for the purpose of the contribution.

(Added to NRS by 1999, 2341)

DISCHARGE

NRS 151.170 Paymentsto county treasurer for person who cannot be found, minor or incapacitatedperson without guardian, and others. Ifproperty is assigned or distributed to a person who cannot be found or whorefuses to accept the property or to give a proper voucher therefor, or to aminor or incapacitated person who has no legal guardian to receive theproperty, or person authorized to receipt therefor, and the property or anypart thereof consists of money, the personal representative may deposit themoney, in the name of the assignee or distributee, with the county treasurer ofthe county in which the proceedings are pending. The county treasurer shallgive a receipt for the money and is liable upon the official bond of the countytreasurer therefor. The receipt must be received by the court as a voucher infavor of the personal representative with the same force and effect as ifexecuted by the assignee or distributee.

[268:107:1941; 1931 NCL 9882.268](NRS A 1999, 2345)

NRS 151.180 Distributionto guardians of nonresident minors and incapacitated persons. If an assignee or distributee is a nonresident minor orincapacitated person who has a guardian of his estate legally appointed underthe laws of a foreign jurisdiction, the distribution of the assignees ordistributees share may be made to the legally appointed guardian, whosereceipt therefor, together with a certificate of appointment issued under theseal of the court by the clerk of the court appointing the guardian, when filedwith the clerk of the court in which the assignment or distribution wasordered, must be received by the court as a complete receipt and voucher infavor of the personal representative.

[269:107:1941; 1931 NCL 9882.269](NRS A 1999, 2345)

NRS 151.190 Saleof unclaimed personal property; disposition of proceeds.

1. If personal property remains in the possession of apersonal representative unclaimed for 1 year, or if the distributee refuses toaccept or give a proper receipt for the property, or is a minor orincapacitated person and has no legally qualified guardian of his estate, andit appears to the court that it is for the benefit of those interested, or ifthe personal representative desires his discharge and it appears to the courtthat no injury will result to those interested, the court shall order theproperty to be sold.

2. The proceeds, after deducting such expenses of saleas may be allowed by the court, must be paid into the State Treasury. Thedepositor must take from the Treasurer a receipt, which must be filed with thecourt.

[270:107:1941; 1931 NCL 9882.270](NRS A 1999, 2345)

NRS 151.210 Claimof money paid into State Treasury; order of court. If any personappears and claims the money paid into the State Treasury, the court making thedistribution shall inquire into the claim, and, if satisfied of his rightthereto, shall enter an order to that effect to present to the State Treasurer.

[272:107:1941; 1931 NCL 9882.272](NRS A 1999, 2346)

NRS 151.220 Specificdevise of personal property for life only. Ifa specific devise of personal property is for life only, the life tenant mustsign and deliver to the remainderman or, if there is none, to the personalrepresentative, an inventory of the property, acknowledging that it is in thelife tenants custody for life only, and that, on death, it is to be deliveredto the remainderman.

[273:107:1941; 1931 NCL 9882.273](NRS A 1999, 2346)

NRS 151.230 Orderof discharge; court may excuse filing of receipt; order for distribution ofestate from recovery of distributed property.

1. If an estate has been fully administered, and it isshown by the personal representative, by the production of satisfactoryreceipts, that all sums of money due and all the property of the estate hasbeen distributed to the persons entitled to it and all acts lawfully requiredhave been performed, the court shall enter an order discharging sureties fromall liability thereafter to be incurred.

2. The court may excuse the filing of a receipt on aproper showing that the personal representative is unable, after reasonableeffort, to obtain a receipt and that the property has been delivered to or isin the possession of the distributee or creditor.

3. The provisions of this section do not bar asuccessful appellant from an order for the distribution of an estate from therecovery of any property distributed to an heir or devisee pursuant to theorder.

[274:107:1941; 1931 NCL 9882.274](NRS A 1981, 463;1999, 2346)

REOPENING

NRS 151.240 Subsequentadministration; limitation on reopening estate.

1. Except as otherwise provided in subsection 2, thefinal settlement of an estate does not prevent:

(a) The reopening of the estate for the purpose ofadministering other property which has been discovered or for correcting errorsmade in the description of the property administered.

(b) The subsequent issuance of letters if it becomesnecessary or proper for any cause that letters should again be issued.

2. In the absence of fraud, an estate must not bereopened based upon the discovery of:

(a) A will, if the estate was administered as if thedecedent had died intestate; or

(b) A will dated later than the will that was probated.

[275:107:1941; 1931 NCL 9882.275](NRS A 1983, 196;1991, 132; 1999, 2346)

NRS 151.250 Petition;hearing and notice. An heir, devisee, creditoror other interested person may petition for the reopening of an estate upon thegrounds provided in NRS 151.240. Thepetition must set forth the names of all heirs, devisees and creditors andtheir addresses, if known. If the address is unknown to the petitioner, heshall state that fact in the petition. The clerk shall set the petition for hearingand the petitioner shall give notice for the period and in the manner requiredby NRS 155.010.

(Added to NRS by 1983, 196; A 1999, 2347)

NRS 151.260 Supplementalorders. Upon hearing the petition, if goodcause is shown, the court may:

1. Reopen the estate.

2. Order the administration of other property whichhas been discovered.

3. Enter any necessary orders to correct errors madein the description of the estate previously administered.

In theabsence of fraud, no proceedings may be taken by the court after the reopeningof an estate except as necessary to administer other property which has beendiscovered or to correct errors made in the description of the estatepreviously administered. Any orders of the court made necessary by thereopening of the estate must be designated as supplemental orders.

(Added to NRS by 1983, 196; A 1999, 2347)

 

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