Nevada § 143.370 - Court approval or supervision required for certain actions; exceptions

§ 143.370. Court approval or supervision required for certain actions; exceptions

1. Notwithstanding any provision of NRS 143.300 to 143.815 , inclusive, to the contrary, whether the personal representative has been granted

limited authority or full authority, a personal representative who has obtained authority

to administer the estate pursuant to NRS 143.300 to 143.815 , inclusive, is required to obtain court approval for any of the following actions: (a) Allowance of the personal representative's compensation; (b) Allowance of compensation of the attorney for the personal representative; (c) Settlement of accounts; (d) Preliminary and final distributions and discharge; (e) Sale of property of the estate to the personal representative or to the attorney

for the personal representative; (f) Exchange of property of the estate for property of the personal representative

or for property of the attorney for the personal representative; (g) Grant of an option to purchase property of the estate to the personal representative

or to the attorney for the personal representative; (h) Allowance, payment or compromise of a claim of the personal representative, or

the attorney for the personal representative, against the estate; (i) Compromise or settlement of a claim, action or proceeding by the estate against

the personal representative or against the attorney for the personal representative; (j) Extension, renewal or modification of the terms of a debt or other obligation

of the personal representative, or the attorney for the personal representative, owing

to or in favor of the decedent or the estate; and (k) Any transaction described in this section that would indirectly benefit the personal

representative, a relative of the personal representative, the attorney for the personal

representative or the attorney for a relative of the personal representative. 2. Notwithstanding any provision of NRS 143.300 to 143.815 , inclusive, to the contrary, a personal representative who has obtained limited authority

to administer the estate pursuant to NRS 143.300 to 143.815 , inclusive, is required to obtain court supervision for any of the following actions: (a) Sale of real property; (b) Exchange of real property; (c) Grant of an option to purchase real property; and (d) Borrowing money with the loan secured by an encumbrance upon real property. 3. Paragraphs (e) to (k), inclusive, of subsection 1 do not apply to a transaction

between the personal representative in his or her capacity as a personal representative

and the personal representative as a person if all the following requirements are

satisfied: (a) The personal representative is the sole beneficiary of the estate or all the known

heirs or devisees have consented to the transaction; (b) The period for filing creditor claims has expired; (c) No request for special notice pursuant to NRS 155.030 is on file or all persons who filed a request for special notice have consented to

the transaction; and (d) The claim of each creditor who filed a claim has been paid, settled or withdrawn,

or the creditor has consented to the transaction. 4. As used in this section, “relative” has the meaning ascribed to it in NRS 163.020 .