Nevada § 149.010 - Authorization to borrow; purposes warranting borrowing; joint borrowing
Full text of Nevada Nevada Revised Statutes § 149.010 — Authorization to borrow; purposes warranting borrowing; joint borrowing, with citation guidance and answers to common questions.
§ 149.010. Authorization to borrow; purposes warranting borrowing; joint borrowing
1. If it appears to be to the advantage of the estate to borrow money upon a note
or notes, unsecured or to be secured by a security agreement or other lien upon the
personal property of the decedent or any part thereof, or to be secured by a mortgage
upon the real property of the decedent or any part thereof, or to mortgage or create
a security interest or other lien upon the property or any part thereof, in order
to pay the debts of the decedent, or devises, or expenses or charges of administration,
or to pay, reduce, extend or renew a security interest or agreement or lien or mortgage
existing upon property of the estate, and as often as occasion arises in the administration
of the estate, the court may direct the personal representative to borrow the money
and to execute such note or notes and, in a proper case, to execute such mortgage,
or to give other security by way of security interest or other lien, or may authorize,
in a proper case, the execution of an extension agreement. 2. If property of the estate consists of an undivided fractional interest in real
or personal property, and it appears to be to the advantage of the estate to borrow
money in order to improve, utilize, operate or preserve the property jointly with
the other co-owner or co-owners, or in order to pay, reduce, extend or renew some
security interest or agreement, lien or mortgage existing upon the property, including
the other undivided interest or interests therein, the court may direct the personal
representative to borrow the money required for those purposes and to join with the
owner or owners of the other undivided interest or interests in the property, or their
duly authorized representatives or agents, in the execution of such joint and several
note or notes as may be necessary, and to join with the owner or owners of the other
undivided interest or interests in the property, or their duly authorized representatives
or agents, in the execution of such security agreement, lien or mortgage as may be
required to secure the payment of the note or notes.
Frequently Asked Questions About Nevada § 149.010
What does Nevada Revised Statutes § 149.010 cover?
Section 149.010 ("Authorization to borrow; purposes warranting borrowing; joint borrowing") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 149.010?
A common citation format is "Nevada Revised Statutes § 149.010" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 149.010 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.